{smcl}
{com}{sf}{ul off}{txt}{.-}
      name:  {res}<unnamed>
       {txt}log:  {res}C:\ado\SWIFT\Log3.smcl
  {txt}log type:  {res}smcl
 {txt}opened on:  {res}16 Oct 2025, 10:39:37

{com}. do "C:\ado\SWIFT\SWIFT_main_ado.do"
{txt}
{com}. *** Replication code for Ahmadov et. al. 2025. Treasure Troves: Understanding Sovereign Wealth Funds Using the SWIFT Dataset. International Studies Quarterly
. 
. *** Analysis run using Stata 14 ***
. 
. use "SWIFT_final_dataset_ISQ.dta", clear
{txt}
{com}. 
. ssc install marhis
{txt}checking {hilite:marhis} consistency and verifying not already installed...
all files already exist and are up to date.

{com}. ssc install xtcd2
{txt}checking {hilite:xtcd2} consistency and verifying not already installed...
all files already exist and are up to date.

{com}. ssc install xtscc
{txt}checking {hilite:xtscc} consistency and verifying not already installed...
all files already exist and are up to date.

{com}. ssc install outreg2
{txt}checking {hilite:outreg2} consistency and verifying not already installed...
all files already exist and are up to date.

{com}. 
. net from http://www.stata-journal.com/software/sj3-2/
{s6hlp}
.-
http://www.stata-journal.com/software/sj3-2/
^Stata Journal volume 3, issue 2^
.-
{smcl}

DIRECTORIES you could -{hilite:net cd}- to:
{p2colset 5 23 23 2}{...}
{p2col :{net cd ..:..}}Other Stata Journals{p_end}
{p2colreset}{...}

PACKAGES you could -{hilite:net describe}-:
{s6hlp}
    @net:describe st0035!st0035@            Module to create plots for use with multiple
                      significance tests
    @net:describe st0036!st0036@            Exploring the use of variable bandwidth kernel density
                      estimators
    @net:describe st0037!st0037@            Adaptive kernel density estimation
    @net:describe st0038!st0038@            CDSIMEQ: A program to implement two-stage probit least
                      squares
    @net:describe st0039!st0039@            Testing for serial correlation in linear panel-data
                      models
    @net:describe gr41_1!gr41_1@            Update to distribution function plots
    @net:describe sbe31_1!sbe31_1@           Update to exact c.i.s for odds ratios from case-control
                      studies
    @net:describe sg113_1!sg113_1@           Update to tabulation of modes
    @net:describe st0004_1!st0004_1@          Update to residual diagnostics for cross-sectional time
                      series
{smcl}
{.-}

{com}. net describe st0039

{txt}{.-}
{s6hlp}
package ^st0039^ from http://www.stata-journal.com/software/sj3-2
{smcl}
{.-}
{s6hlp}

^TITLE^
      SJ3-2 st0039.  Testing for serial correlation in linear ...

^DESCRIPTION/AUTHOR(S)^
      Testing for serial correlation in linear panel-data models
      by David M. Drukker, Stata Corporation
      Support:  ddrukker@@stata.com
      After installation, type help ^xtserial^

^INSTALLATION FILES^                               (type ^net install^ ^st0039^)
      st0039/xtserial.ado
      st0039/xtserial.hlp

^ANCILLARY FILES^                                  (type ^net get^ ^st0039^)
      st0039/xtserial.do
{smcl}
{.-}

{com}. net install st0039
checking {hilite:st0039} consistency and verifying not already installed...
all files already exist and are up to date.
{txt}
{com}. ssc install g538schemes
{txt}checking {hilite:g538schemes} consistency and verifying not already installed...
all files already exist and are up to date.

{com}. 
. sort cowcode swf_num_id  year
{txt}
{com}. 
. *** OBSERVATIONS
. *********************
. *** Observation 1 ***
. *********************
. 
. *** SWFs over time (Manuscript, Figure 1)
. 
. histogram year if hasswf==1, discrete frequency by(feregion2) scheme(538)
{res}{txt}
{com}. graph save Graph "Figure1.gph"
{res}{txt}(file Figure1.gph saved)

{com}. graph export "Figure1.eps", as(eps) preview(off) replace
{txt}(note: file Figure1.eps not found)
(file Figure1.eps written in EPS format)

{com}. 
. *** Number of SWFs (Manuscript, Table 1, Column N)
. 
. tab  feregion2 if hasswf==1&year==2023

                          {txt}feregion2 {c |}      Freq.     Percent        Cum.
{hline 36}{c +}{hline 35}
    Latin America and the Caribbean {c |}{res}         11       10.38       10.38
{txt}                 Sub-Saharan Africa {c |}{res}         17       16.04       26.42
{txt}   North Africa and the Middle East {c |}{res}         27       25.47       51.89
{txt}                South and East Asia {c |}{res}         19       17.92       69.81
{txt}East Europe and former Soviet Union {c |}{res}          6        5.66       75.47
{txt}      Western Democracies and Japan {c |}{res}         26       24.53      100.00
{txt}{hline 36}{c +}{hline 35}
                              Total {c |}{res}        106      100.00
{txt}
{com}. 
. *** SWF Assets  (Manuscript, Table 1, Columns Mean, Median, Total Assets)
. 
. table feregion2 if year==2023, contents(mean assetsbn2010 median assetsbn2010 sum assetsbn2010 )

{txt}{hline 36}{c TT}{hline 47}
                          feregion2 {c |} mean(ass~2010)   med(ass~2010)   sum(ass~2010)
{hline 36}{c +}{hline 47}
    Latin America and the Caribbean {c |}      {res}2.2007986       1.6577604        22.00799
                 {txt}Sub-Saharan Africa {c |}      {res}2.5986464       .60555497         38.9797
   {txt}North Africa and the Middle East {c |}      {res}128.34817        11.59197        3465.401
                {txt}South and East Asia {c |}      {res}187.15088       12.111815        3555.867
{txt}East Europe and former Soviet Union {c |}      {res}32.010161       20.566954         192.061
      {txt}Western Democracies and Japan {c |}      {res}64.783457       6.4417163        1554.803
{txt}{hline 36}{c BT}{hline 47}

{com}. 
. *** Collapse for subsequent analysis 
. 
. collapse (mean) hasswf hasswf2 hasswf2_1 hasswf2_3  hasswf2_5  feregion2 assetsbn2010 assetspc2010ln_1  linaburg ///
> linaburg2 linaburg_12  p_polity2 totalrentspcln_1 totalrentspcln_3 totalrentspcln_5  dr_eg dr_eg_1 dr_pg dr_pg_1 dr_sg_1   dr_sg_3 dr_sg_5 rgdppcln_1 ///
> rgdppcln_3 rgdppcln_5 p_polity2_1 bci_bci_1 bti_cps bti_cps2 bti_cps_1  bti_cps_12 bti_ic bti_ic2 bti_ic_1  bti_ic_12  ///
> bti_eos bti_eos2 bti_eos_1 bti_eos_12 pdevde_1 pstab_1 psave_1  orioil_1 origas_1 orimin_1 orinonc_1 ///
>  gpcr_eci gpcr_eci_1 pdevde_3 pdevde_5 pstab_3 pstab_5 psave_3 psave_5  orioil_3 orioil_5 ///
>  origas_3 origas_5 orimin_3 orimin_5 orinonc_3 orinonc_5 p_polity2_3 p_polity2_5 bci_bci_3 bci_bci_5, by( cowcode year)
{txt}
{com}.  
. save "SWIFT_collapsed_dataset.dta", replace
{txt}(note: file SWIFT_collapsed_dataset.dta not found)
file SWIFT_collapsed_dataset.dta saved

{com}. 
. sort cowcode  year
{txt}
{com}. xtset cowcode year
{res}{txt}{col 8}panel variable:  {res}cowcode (unbalanced)
{txt}{col 9}time variable:  {res}{col 25}year, 1932 to 2023, but with gaps
{txt}{col 17}delta:  {res}1 unit
{txt}
{com}. 
. 
. 
. *********************
. *** Observation 2 ***
. *********************
. 
. *** SWFs and Fiscal and Monetary Stability (Manuscript, Figure 2)
. 
. graph hbox bti_cps, over(hasswf2) by(feregion2) ytitle(Monetary and Fiscal Stability)
{res}{txt}
{com}. graph save Graph "Figure2.gph"
{res}{txt}(file Figure2.gph saved)

{com}. graph export "Figure2.eps", as(eps) preview(off) replace
{txt}(note: file Figure2.eps not found)
(file Figure2.eps written in EPS format)

{com}. 
. *** Run Wilcoxon rank-sum test and input z and p values into subplots in Figure 2
. by feregion2, sort : ranksum bti_cps, by(hasswf2)

{txt}{hline}
-> feregion2 = 1

Two-sample Wilcoxon rank-sum (Mann-Whitney) test

     hasswf2 {c |}      obs    rank sum    expected
{hline 13}{c +}{hline 33}
           0 {c |}{res}{col 17}    130{col 26}   11153.5{col 38}     12480
           {txt}1 {c |}{res}{col 17}     61{col 26}    7182.5{col 38}      5856
{txt}{hline 13}{c +}{hline 33}
    combined {c |}{res}{col 17}    191{col 26}     18336{col 38}     18336

{txt}unadjusted variance{col 22}{res} 126880.00
{txt}adjustment for ties{col 22}{res}  -1326.18
{txt}{col 22}{hline 10}
adjusted variance{col 22}{res} 125553.82

{txt}Ho: bti_cps(hasswf2==0) = bti_cps(hasswf2==1)
{col 14}z = {res} -3.744
{txt}{col 5}Prob > |z| = {res}  0.0002

{txt}{hline}
-> feregion2 = 2

Two-sample Wilcoxon rank-sum (Mann-Whitney) test

     hasswf2 {c |}      obs    rank sum    expected
{hline 13}{c +}{hline 33}
           0 {c |}{res}{col 17}    265{col 26}     45827{col 38}   45447.5
           {txt}1 {c |}{res}{col 17}     77{col 26}     12826{col 38}   13205.5
{txt}{hline 13}{c +}{hline 33}
    combined {c |}{res}{col 17}    342{col 26}     58653{col 38}     58653

{txt}unadjusted variance{col 22}{res} 583242.92
{txt}adjustment for ties{col 22}{res}  -7866.43
{txt}{col 22}{hline 10}
adjusted variance{col 22}{res} 575376.49

{txt}Ho: bti_cps(hasswf2==0) = bti_cps(hasswf2==1)
{col 14}z = {res}  0.500
{txt}{col 5}Prob > |z| = {res}  0.6169

{txt}{hline}
-> feregion2 = 3

Two-sample Wilcoxon rank-sum (Mann-Whitney) test

     hasswf2 {c |}      obs    rank sum    expected
{hline 13}{c +}{hline 33}
           0 {c |}{res}{col 17}     63{col 26}    4693.5{col 38}    5008.5
           {txt}1 {c |}{res}{col 17}     95{col 26}    7867.5{col 38}    7552.5
{txt}{hline 13}{c +}{hline 33}
    combined {c |}{res}{col 17}    158{col 26}     12561{col 38}     12561

{txt}unadjusted variance{col 22}{res}  79301.25
{txt}adjustment for ties{col 22}{res}  -1226.63
{txt}{col 22}{hline 10}
adjusted variance{col 22}{res}  78074.62

{txt}Ho: bti_cps(hasswf2==0) = bti_cps(hasswf2==1)
{col 14}z = {res} -1.127
{txt}{col 5}Prob > |z| = {res}  0.2596

{txt}{hline}
-> feregion2 = 4

Two-sample Wilcoxon rank-sum (Mann-Whitney) test

     hasswf2 {c |}      obs    rank sum    expected
{hline 13}{c +}{hline 33}
           0 {c |}{res}{col 17}    135{col 26}   10910.5{col 38}   12892.5
           {txt}1 {c |}{res}{col 17}     55{col 26}    7234.5{col 38}    5252.5
{txt}{hline 13}{c +}{hline 33}
    combined {c |}{res}{col 17}    190{col 26}     18145{col 38}     18145

{txt}unadjusted variance{col 22}{res} 118181.25
{txt}adjustment for ties{col 22}{res}   -981.21
{txt}{col 22}{hline 10}
adjusted variance{col 22}{res} 117200.04

{txt}Ho: bti_cps(hasswf2==0) = bti_cps(hasswf2==1)
{col 14}z = {res} -5.789
{txt}{col 5}Prob > |z| = {res}  0.0000

{txt}{hline}
-> feregion2 = 5

Two-sample Wilcoxon rank-sum (Mann-Whitney) test

     hasswf2 {c |}      obs    rank sum    expected
{hline 13}{c +}{hline 33}
           0 {c |}{res}{col 17}    207{col 26}     26495{col 38}     25047
           {txt}1 {c |}{res}{col 17}     34{col 26}      2666{col 38}      4114
{txt}{hline 13}{c +}{hline 33}
    combined {c |}{res}{col 17}    241{col 26}     29161{col 38}     29161

{txt}unadjusted variance{col 22}{res} 141933.00
{txt}adjustment for ties{col 22}{res}  -1710.71
{txt}{col 22}{hline 10}
adjusted variance{col 22}{res} 140222.29

{txt}Ho: bti_cps(hasswf2==0) = bti_cps(hasswf2==1)
{col 14}z = {res}  3.867
{txt}{col 5}Prob > |z| = {res}  0.0001

{txt}{hline}
-> feregion2 = 6
no observations

{com}. 
. *********************
. *** Observation 3 ***
. *********************
. 
. *** Manuscript, Figure 3
. 
. twoway (histogram p_polity2 [fweight = cowcode], discrete percent yaxis(2)) (qfitci linaburg p_polity2, fcolor(none) blwidth(none)), ytitle(Linaburg-Maduell Transparency Index (0-10)) legend(cols(1) position(6)) scheme(sj)
{res}{txt}
{com}. graph save Graph "Figure3.gph", replace
{txt}(note: file Figure3.gph not found)
{res}{txt}(file Figure3.gph saved)

{com}. graph export "Figure3.eps", as(eps) preview(off) replace
{txt}(note: file Figure3.eps not found)
(file Figure3.eps written in EPS format)

{com}. 
. *********************
. *** Observation 4 ***
. *********************
. 
. *** Manuscript, Figure 4
. 
. logit hasswf2 totalrentspcln_1 if feregion2==1&totalrentspcln_1>=4, vce(robust)

{res}{txt}Iteration 0:{space 3}log pseudolikelihood = {res: -487.2657}  
Iteration 1:{space 3}log pseudolikelihood = {res:-397.13486}  
Iteration 2:{space 3}log pseudolikelihood = {res:-383.77732}  
Iteration 3:{space 3}log pseudolikelihood = {res:-383.55759}  
Iteration 4:{space 3}log pseudolikelihood = {res:-383.55723}  
Iteration 5:{space 3}log pseudolikelihood = {res:-383.55723}  
{res}
{txt}Logistic regression{col 49}Number of obs{col 67}= {res}     1,131
{txt}{col 49}Wald chi2({res}1{txt}){col 67}= {res}    133.76
{txt}{col 49}Prob > chi2{col 67}= {res}    0.0000
{txt}Log pseudolikelihood = {res}-383.55723{txt}{col 49}Pseudo R2{col 67}= {res}    0.2128

{txt}{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}         hasswf2{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      z{col 50}   P>|z|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
totalrentspcln_1 {c |}{col 18}{res}{space 2} .9423555{col 30}{space 2} .0814813{col 41}{space 1}   11.57{col 50}{space 3}0.000{col 58}{space 4}  .782655{col 71}{space 3} 1.102056
{txt}{space 11}_cons {c |}{col 18}{res}{space 2} -15.0446{col 30}{space 2} 1.183935{col 41}{space 1}  -12.71{col 50}{space 3}0.000{col 58}{space 4}-17.36507{col 71}{space 3}-12.72413
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

{com}. marhis totalrentspcln_1, percent summaryno 
Estimating margins
Margins obtained through: margins, at(totalrentspcln_1=(8.812252998352051(.5753543217976885)17.44256782531738)) level(95)
Graphing Average Adjusted Predictions (AAPs) of hasswf2 across values of totalrentspcln_1
{txt}
{com}. graph save Graph "marhisLA.gph", replace
{txt}(note: file marhisLA.gph not found)
{res}{txt}(file marhisLA.gph saved)

{com}. 
. logit hasswf2 totalrentspcln_1 if feregion2==2&totalrentspcln_1>=4, vce(robust)

{res}{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-704.05334}  
Iteration 1:{space 3}log pseudolikelihood = {res: -669.7929}  
Iteration 2:{space 3}log pseudolikelihood = {res:-667.83403}  
Iteration 3:{space 3}log pseudolikelihood = {res:-667.83069}  
Iteration 4:{space 3}log pseudolikelihood = {res:-667.83069}  
{res}
{txt}Logistic regression{col 49}Number of obs{col 67}= {res}     2,097
{txt}{col 49}Wald chi2({res}1{txt}){col 67}= {res}     56.12
{txt}{col 49}Prob > chi2{col 67}= {res}    0.0000
{txt}Log pseudolikelihood = {res}-667.83069{txt}{col 49}Pseudo R2{col 67}= {res}    0.0514

{txt}{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}         hasswf2{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      z{col 50}   P>|z|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
totalrentspcln_1 {c |}{col 18}{res}{space 2} .4554891{col 30}{space 2}  .060801{col 41}{space 1}    7.49{col 50}{space 3}0.000{col 58}{space 4} .3363213{col 71}{space 3} .5746569
{txt}{space 11}_cons {c |}{col 18}{res}{space 2}-8.244119{col 30}{space 2} .8352907{col 41}{space 1}   -9.87{col 50}{space 3}0.000{col 58}{space 4}-9.881259{col 71}{space 3}-6.606979
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

{com}. marhis totalrentspcln_1, percent summaryno
Estimating margins
Margins obtained through: margins, at(totalrentspcln_1=(4.008161067962647(.9236584027608236)17.863037109375)) level(95)
Graphing Average Adjusted Predictions (AAPs) of hasswf2 across values of totalrentspcln_1
{txt}
{com}. graph save Graph "marhisSSA.gph", replace
{txt}(note: file marhisSSA.gph not found)
{res}{txt}(file marhisSSA.gph saved)

{com}.  
. 
. logit hasswf2 totalrentspcln_1 if feregion2==3&totalrentspcln_1>=4, vce(robust)

{res}{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-609.10786}  
Iteration 1:{space 3}log pseudolikelihood = {res:-438.55064}  
Iteration 2:{space 3}log pseudolikelihood = {res: -425.8059}  
Iteration 3:{space 3}log pseudolikelihood = {res:-425.64184}  
Iteration 4:{space 3}log pseudolikelihood = {res:-425.64171}  
Iteration 5:{space 3}log pseudolikelihood = {res:-425.64171}  
{res}
{txt}Logistic regression{col 49}Number of obs{col 67}= {res}       921
{txt}{col 49}Wald chi2({res}1{txt}){col 67}= {res}    145.07
{txt}{col 49}Prob > chi2{col 67}= {res}    0.0000
{txt}Log pseudolikelihood = {res}-425.64171{txt}{col 49}Pseudo R2{col 67}= {res}    0.3012

{txt}{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}         hasswf2{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      z{col 50}   P>|z|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
totalrentspcln_1 {c |}{col 18}{res}{space 2} .6349781{col 30}{space 2} .0527202{col 41}{space 1}   12.04{col 50}{space 3}0.000{col 58}{space 4} .5316484{col 71}{space 3} .7383079
{txt}{space 11}_cons {c |}{col 18}{res}{space 2}  -10.392{col 30}{space 2} .8553506{col 41}{space 1}  -12.15{col 50}{space 3}0.000{col 58}{space 4}-12.06845{col 71}{space 3}-8.715542
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

{com}. marhis totalrentspcln_1, percent summaryno
Estimating margins
Margins obtained through: margins, at(totalrentspcln_1=(6.325407028198242(.9101131439208985)19.97710418701172)) level(95)
Graphing Average Adjusted Predictions (AAPs) of hasswf2 across values of totalrentspcln_1
{txt}
{com}. graph save Graph "marhisMENA.gph", replace
{txt}(note: file marhisMENA.gph not found)
{res}{txt}(file marhisMENA.gph saved)

{com}.  
. logit hasswf2 totalrentspcln_1 if feregion2==4&totalrentspcln_1>=4, vce(robust)

{res}{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-625.06369}  
Iteration 1:{space 3}log pseudolikelihood = {res: -624.1502}  
Iteration 2:{space 3}log pseudolikelihood = {res:-624.14966}  
Iteration 3:{space 3}log pseudolikelihood = {res:-624.14966}  
{res}
{txt}Logistic regression{col 49}Number of obs{col 67}= {res}     1,131
{txt}{col 49}Wald chi2({res}1{txt}){col 67}= {res}      0.83
{txt}{col 49}Prob > chi2{col 67}= {res}    0.3619
{txt}Log pseudolikelihood = {res}-624.14966{txt}{col 49}Pseudo R2{col 67}= {res}    0.0015

{txt}{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}         hasswf2{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      z{col 50}   P>|z|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
totalrentspcln_1 {c |}{col 18}{res}{space 2} .0424658{col 30}{space 2} .0465728{col 41}{space 1}    0.91{col 50}{space 3}0.362{col 58}{space 4}-.0488153{col 71}{space 3} .1337469
{txt}{space 11}_cons {c |}{col 18}{res}{space 2}-1.672656{col 30}{space 2} .5888026{col 41}{space 1}   -2.84{col 50}{space 3}0.005{col 58}{space 4}-2.826687{col 71}{space 3}-.5186237
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

{com}. marhis totalrentspcln_1, percent summaryno
Estimating margins
Margins obtained through: margins, at(totalrentspcln_1=(6.650218009948731(.7932472864786786)18.54892730712891)) level(95)
Graphing Average Adjusted Predictions (AAPs) of hasswf2 across values of totalrentspcln_1
{txt}
{com}. graph save Graph "marhisSEA.gph", replace
{txt}(note: file marhisSEA.gph not found)
{res}{txt}(file marhisSEA.gph saved)

{com}.  
. logit hasswf2 totalrentspcln_1 if feregion2==5&totalrentspcln_1>=4, vce(robust)

{res}{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-259.30454}  
Iteration 1:{space 3}log pseudolikelihood = {res:-141.79363}  
Iteration 2:{space 3}log pseudolikelihood = {res:-74.529612}  
Iteration 3:{space 3}log pseudolikelihood = {res:-67.175285}  
Iteration 4:{space 3}log pseudolikelihood = {res:-67.007681}  
Iteration 5:{space 3}log pseudolikelihood = {res: -67.00733}  
Iteration 6:{space 3}log pseudolikelihood = {res: -67.00733}  
{res}
{txt}Logistic regression{col 49}Number of obs{col 67}= {res}       814
{txt}{col 49}Wald chi2({res}1{txt}){col 67}= {res}     61.61
{txt}{col 49}Prob > chi2{col 67}= {res}    0.0000
{txt}Log pseudolikelihood = {res} -67.00733{txt}{col 49}Pseudo R2{col 67}= {res}    0.7416

{txt}{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}         hasswf2{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      z{col 50}   P>|z|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
totalrentspcln_1 {c |}{col 18}{res}{space 2} 3.130432{col 30}{space 2} .3988304{col 41}{space 1}    7.85{col 50}{space 3}0.000{col 58}{space 4} 2.348738{col 71}{space 3} 3.912125
{txt}{space 11}_cons {c |}{col 18}{res}{space 2}-47.94707{col 30}{space 2} 6.074892{col 41}{space 1}   -7.89{col 50}{space 3}0.000{col 58}{space 4}-59.85364{col 71}{space 3} -36.0405
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{p 0 6 2}Note: 18 failures and 0 successes completely determined.{p_end}

{com}. marhis totalrentspcln_1, percent summaryno
Estimating margins
Margins obtained through: margins, at(totalrentspcln_1=(7.308346271514893(.6430846850077311)16.95461654663086)) level(95)
Graphing Average Adjusted Predictions (AAPs) of hasswf2 across values of totalrentspcln_1
{txt}
{com}. graph save Graph "marhisEESU.gph", replace
{txt}(note: file marhisEESU.gph not found)
{res}{txt}(file marhisEESU.gph saved)

{com}.  
. logit hasswf2 totalrentspcln_1 if feregion2==6&totalrentspcln_1>=4, vce(robust)

{res}{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-666.13984}  
Iteration 1:{space 3}log pseudolikelihood = {res:-569.38026}  
Iteration 2:{space 3}log pseudolikelihood = {res:-567.27295}  
Iteration 3:{space 3}log pseudolikelihood = {res: -567.2712}  
Iteration 4:{space 3}log pseudolikelihood = {res: -567.2712}  
{res}
{txt}Logistic regression{col 49}Number of obs{col 67}= {res}     1,057
{txt}{col 49}Wald chi2({res}1{txt}){col 67}= {res}    180.44
{txt}{col 49}Prob > chi2{col 67}= {res}    0.0000
{txt}Log pseudolikelihood = {res} -567.2712{txt}{col 49}Pseudo R2{col 67}= {res}    0.1484

{txt}{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}         hasswf2{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      z{col 50}   P>|z|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
totalrentspcln_1 {c |}{col 18}{res}{space 2} .5923738{col 30}{space 2} .0440986{col 41}{space 1}   13.43{col 50}{space 3}0.000{col 58}{space 4} .5059421{col 71}{space 3} .6788054
{txt}{space 11}_cons {c |}{col 18}{res}{space 2}-8.940708{col 30}{space 2} .6274648{col 41}{space 1}  -14.25{col 50}{space 3}0.000{col 58}{space 4}-10.17052{col 71}{space 3}-7.710899
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

{com}. marhis totalrentspcln_1, percent summaryno
Estimating margins
Margins obtained through: margins, at(totalrentspcln_1=(10.59182357788086(.5225779215494794)18.43049240112305)) level(95)
Graphing Average Adjusted Predictions (AAPs) of hasswf2 across values of totalrentspcln_1
{txt}
{com}. graph save Graph "marhisWEJ.gph", replace
{txt}(note: file marhisWEJ.gph not found)
{res}{txt}(file marhisWEJ.gph saved)

{com}.  
. graph combine "marhisLA.gph" "marhisSSA.gph" "marhisMENA.gph" "marhisSEA.gph" "marhisEESU.gph" "marhisWEJ.gph", ycommon xcommon iscale(*1) imargin(vsmall) commonscheme
{res}{txt}
{com}. graph save Graph "Figure4.gph", replace
{txt}(note: file Figure4.gph not found)
{res}{txt}(file Figure4.gph saved)

{com}. 
. graph export "Figure4.eps", as(eps) preview(off) replace
{txt}(note: file Figure4.eps not found)
(file Figure4.eps written in EPS format)

{com}. 
. 
. 
. *******************
. *** REGRESSIONS ***
. *******************
. *** DIAGNOSTICS ***
. *******************
. 
. *** First, model diagnostics***
. 
. *** Model Diagnostics Note in the Online Appendix interprets the following:
. 
. *** Random or fixed effects - Hausman test
. xtreg dr_eg hasswf2_1 totalrentspcln_1 rgdppcln_1 p_polity2_1 bci_bci_1 dr_sg_1 i.year , fe   
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}     2,875
{txt}Group variable: {res}cowcode{txt}{col 49}Number of groups{col 67}={col 69}{res}       142

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.6435{col 63}{txt}min{col 67}={col 69}{res}         5
{txt}     between = {res}0.6819{col 63}{txt}avg{col 67}={col 69}{res}      20.2
{txt}     overall = {res}0.6872{col 63}{txt}max{col 67}={col 69}{res}        25

{txt}{col 49}F({res}35{txt},{res}2698{txt}){col 67}={col 70}{res}   139.16
{txt}corr(u_i, Xb){col 16}= {res}-0.5274{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}           dr_eg{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}hasswf2_1 {c |}{col 18}{res}{space 2}-1.468537{col 30}{space 2} .4305521{col 41}{space 1}   -3.41{col 50}{space 3}0.001{col 58}{space 4}-2.312782{col 71}{space 3}-.6242916
{txt}totalrentspcln_1 {c |}{col 18}{res}{space 2}-.2702988{col 30}{space 2} .1825401{col 41}{space 1}   -1.48{col 50}{space 3}0.139{col 58}{space 4}-.6282314{col 71}{space 3} .0876338
{txt}{space 6}rgdppcln_1 {c |}{col 18}{res}{space 2} 2.382291{col 30}{space 2} .5802556{col 41}{space 1}    4.11{col 50}{space 3}0.000{col 58}{space 4}   1.2445{col 71}{space 3} 3.520081
{txt}{space 5}p_polity2_1 {c |}{col 18}{res}{space 2}-.0042248{col 30}{space 2} .0279192{col 41}{space 1}   -0.15{col 50}{space 3}0.880{col 58}{space 4}  -.05897{col 71}{space 3} .0505204
{txt}{space 7}bci_bci_1 {c |}{col 18}{res}{space 2}-.3246638{col 30}{space 2} .0771361{col 41}{space 1}   -4.21{col 50}{space 3}0.000{col 58}{space 4}-.4759156{col 71}{space 3}-.1734119
{txt}{space 9}dr_sg_1 {c |}{col 18}{res}{space 2} .5833858{col 30}{space 2} .0325265{col 41}{space 1}   17.94{col 50}{space 3}0.000{col 58}{space 4} .5196064{col 71}{space 3} .6471651
{txt}{space 16} {c |}
{space 12}year {c |}
{space 11}1986  {c |}{col 18}{res}{space 2}  -.77147{col 30}{space 2} .6043848{col 41}{space 1}   -1.28{col 50}{space 3}0.202{col 58}{space 4}-1.956574{col 71}{space 3}  .413634
{txt}{space 11}1987  {c |}{col 18}{res}{space 2}-.7923177{col 30}{space 2} .6033009{col 41}{space 1}   -1.31{col 50}{space 3}0.189{col 58}{space 4}-1.975296{col 71}{space 3} .3906611
{txt}{space 11}1988  {c |}{col 18}{res}{space 2}-.6345303{col 30}{space 2} .6022742{col 41}{space 1}   -1.05{col 50}{space 3}0.292{col 58}{space 4}-1.815496{col 71}{space 3} .5464353
{txt}{space 11}1989  {c |}{col 18}{res}{space 2}-.2380037{col 30}{space 2} .6009515{col 41}{space 1}   -0.40{col 50}{space 3}0.692{col 58}{space 4}-1.416376{col 71}{space 3} .9403681
{txt}{space 11}1990  {c |}{col 18}{res}{space 2}-.2504592{col 30}{space 2} .6058904{col 41}{space 1}   -0.41{col 50}{space 3}0.679{col 58}{space 4}-1.438515{col 71}{space 3} .9375971
{txt}{space 11}1991  {c |}{col 18}{res}{space 2}-.6000622{col 30}{space 2} .6093452{col 41}{space 1}   -0.98{col 50}{space 3}0.325{col 58}{space 4}-1.794893{col 71}{space 3} .5947684
{txt}{space 11}1992  {c |}{col 18}{res}{space 2} .0136676{col 30}{space 2} .6186664{col 41}{space 1}    0.02{col 50}{space 3}0.982{col 58}{space 4}-1.199441{col 71}{space 3} 1.226776
{txt}{space 11}1993  {c |}{col 18}{res}{space 2} .9526027{col 30}{space 2} .6261873{col 41}{space 1}    1.52{col 50}{space 3}0.128{col 58}{space 4}-.2752527{col 71}{space 3} 2.180458
{txt}{space 11}1994  {c |}{col 18}{res}{space 2} 2.015576{col 30}{space 2} .6315183{col 41}{space 1}    3.19{col 50}{space 3}0.001{col 58}{space 4} .7772672{col 71}{space 3} 3.253885
{txt}{space 11}1995  {c |}{col 18}{res}{space 2} 2.387973{col 30}{space 2}  .640277{col 41}{space 1}    3.73{col 50}{space 3}0.000{col 58}{space 4}  1.13249{col 71}{space 3} 3.643456
{txt}{space 11}1996  {c |}{col 18}{res}{space 2} 1.790189{col 30}{space 2} .6477561{col 41}{space 1}    2.76{col 50}{space 3}0.006{col 58}{space 4} .5200409{col 71}{space 3} 3.060338
{txt}{space 11}1997  {c |}{col 18}{res}{space 2} 2.653209{col 30}{space 2} .6387693{col 41}{space 1}    4.15{col 50}{space 3}0.000{col 58}{space 4} 1.400682{col 71}{space 3} 3.905736
{txt}{space 11}1998  {c |}{col 18}{res}{space 2}  3.63663{col 30}{space 2} .6548745{col 41}{space 1}    5.55{col 50}{space 3}0.000{col 58}{space 4} 2.352524{col 71}{space 3} 4.920737
{txt}{space 11}1999  {c |}{col 18}{res}{space 2} 3.744424{col 30}{space 2} .6812369{col 41}{space 1}    5.50{col 50}{space 3}0.000{col 58}{space 4} 2.408625{col 71}{space 3} 5.080223
{txt}{space 11}2000  {c |}{col 18}{res}{space 2} 4.577973{col 30}{space 2} .7012155{col 41}{space 1}    6.53{col 50}{space 3}0.000{col 58}{space 4} 3.202999{col 71}{space 3} 5.952947
{txt}{space 11}2001  {c |}{col 18}{res}{space 2} 4.360307{col 30}{space 2} .7127124{col 41}{space 1}    6.12{col 50}{space 3}0.000{col 58}{space 4} 2.962789{col 71}{space 3} 5.757824
{txt}{space 11}2002  {c |}{col 18}{res}{space 2} 2.852795{col 30}{space 2}  .738861{col 41}{space 1}    3.86{col 50}{space 3}0.000{col 58}{space 4} 1.404004{col 71}{space 3} 4.301586
{txt}{space 11}2003  {c |}{col 18}{res}{space 2} 2.942758{col 30}{space 2} .7579713{col 41}{space 1}    3.88{col 50}{space 3}0.000{col 58}{space 4} 1.456495{col 71}{space 3} 4.429021
{txt}{space 11}2004  {c |}{col 18}{res}{space 2} 3.159814{col 30}{space 2} .7788742{col 41}{space 1}    4.06{col 50}{space 3}0.000{col 58}{space 4} 1.632563{col 71}{space 3} 4.687065
{txt}{space 11}2005  {c |}{col 18}{res}{space 2} 3.092596{col 30}{space 2} .8067658{col 41}{space 1}    3.83{col 50}{space 3}0.000{col 58}{space 4} 1.510654{col 71}{space 3} 4.674537
{txt}{space 11}2006  {c |}{col 18}{res}{space 2} 2.966787{col 30}{space 2}  .830536{col 41}{space 1}    3.57{col 50}{space 3}0.000{col 58}{space 4} 1.338235{col 71}{space 3} 4.595338
{txt}{space 11}2007  {c |}{col 18}{res}{space 2} 2.955515{col 30}{space 2} .8670884{col 41}{space 1}    3.41{col 50}{space 3}0.001{col 58}{space 4}  1.25529{col 71}{space 3}  4.65574
{txt}{space 11}2008  {c |}{col 18}{res}{space 2} .9496519{col 30}{space 2} .9087727{col 41}{space 1}    1.04{col 50}{space 3}0.296{col 58}{space 4}-.8323092{col 71}{space 3} 2.731613
{txt}{space 11}2009  {c |}{col 18}{res}{space 2}-1.224386{col 30}{space 2} 4.107175{col 41}{space 1}   -0.30{col 50}{space 3}0.766{col 58}{space 4}-9.277913{col 71}{space 3} 6.829142
{txt}{space 11}2011  {c |}{col 18}{res}{space 2} 7.048699{col 30}{space 2} 3.021777{col 41}{space 1}    2.33{col 50}{space 3}0.020{col 58}{space 4} 1.123466{col 71}{space 3} 12.97393
{txt}{space 11}2012  {c |}{col 18}{res}{space 2} 1.524094{col 30}{space 2} 2.502992{col 41}{space 1}    0.61{col 50}{space 3}0.543{col 58}{space 4}-3.383882{col 71}{space 3}  6.43207
{txt}{space 11}2014  {c |}{col 18}{res}{space 2} 4.296126{col 30}{space 2} 3.013944{col 41}{space 1}    1.43{col 50}{space 3}0.154{col 58}{space 4}-1.613747{col 71}{space 3}   10.206
{txt}{space 11}2019  {c |}{col 18}{res}{space 2} -.121069{col 30}{space 2}  4.18871{col 41}{space 1}   -0.03{col 50}{space 3}0.977{col 58}{space 4}-8.334475{col 71}{space 3} 8.092337
{txt}{space 11}2020  {c |}{col 18}{res}{space 2} 9.736633{col 30}{space 2} 4.223176{col 41}{space 1}    2.31{col 50}{space 3}0.021{col 58}{space 4} 1.455646{col 71}{space 3} 18.01762
{txt}{space 16} {c |}
{space 11}_cons {c |}{col 18}{res}{space 2} 21.37824{col 30}{space 2} 7.148509{col 41}{space 1}    2.99{col 50}{space 3}0.003{col 58}{space 4} 7.361129{col 71}{space 3} 35.39534
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
         sigma_u {c |} {res} 10.079853
         {txt}sigma_e {c |} {res} 3.9742857
             {txt}rho {c |} {res} .86545857{txt}   (fraction of variance due to u_i)
{hline 17}{c BT}{hline 64}
F test that all u_i=0: F({res}141{txt}, {res}2698{txt}) = {res}78.41{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. estimates store fixed
{txt}
{com}. xtreg dr_eg hasswf2_1 totalrentspcln_1 rgdppcln_1 p_polity2_1 bci_bci_1 dr_sg_1 i.year , re   
{res}
{txt}Random-effects GLS regression                   Number of obs     = {res}     2,875
{txt}Group variable: {res}cowcode                         {txt}Number of groups  = {res}       142

{txt}R-sq:                                           Obs per group:
     within  = {res}0.6420                                         {txt}min = {res}         5
{txt}     between = {res}0.7000                                         {txt}avg = {res}      20.2
{txt}     overall = {res}0.7027                                         {txt}max = {res}        25

                                                {txt}Wald chi2({res}35{txt})     =  {res}  5164.66
{txt}corr(u_i, X)   = {res}0{txt} (assumed)                    Prob > chi2       =     {res}0.0000

{txt}{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}           dr_eg{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      z{col 50}   P>|z|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}hasswf2_1 {c |}{col 18}{res}{space 2}-1.314281{col 30}{space 2} .4258286{col 41}{space 1}   -3.09{col 50}{space 3}0.002{col 58}{space 4} -2.14889{col 71}{space 3}-.4796725
{txt}totalrentspcln_1 {c |}{col 18}{res}{space 2}-.2481911{col 30}{space 2} .1642369{col 41}{space 1}   -1.51{col 50}{space 3}0.131{col 58}{space 4}-.5700894{col 71}{space 3} .0737073
{txt}{space 6}rgdppcln_1 {c |}{col 18}{res}{space 2} 1.814695{col 30}{space 2} .5223608{col 41}{space 1}    3.47{col 50}{space 3}0.001{col 58}{space 4} .7908868{col 71}{space 3} 2.838503
{txt}{space 5}p_polity2_1 {c |}{col 18}{res}{space 2}-.0419484{col 30}{space 2}  .026762{col 41}{space 1}   -1.57{col 50}{space 3}0.117{col 58}{space 4}-.0944009{col 71}{space 3}  .010504
{txt}{space 7}bci_bci_1 {c |}{col 18}{res}{space 2}-.1139126{col 30}{space 2} .0418522{col 41}{space 1}   -2.72{col 50}{space 3}0.006{col 58}{space 4}-.1959413{col 71}{space 3}-.0318838
{txt}{space 9}dr_sg_1 {c |}{col 18}{res}{space 2} .5688024{col 30}{space 2}  .030113{col 41}{space 1}   18.89{col 50}{space 3}0.000{col 58}{space 4}  .509782{col 71}{space 3} .6278227
{txt}{space 16} {c |}
{space 12}year {c |}
{space 11}1986  {c |}{col 18}{res}{space 2}-.7049174{col 30}{space 2} .6061565{col 41}{space 1}   -1.16{col 50}{space 3}0.245{col 58}{space 4}-1.892962{col 71}{space 3} .4831275
{txt}{space 11}1987  {c |}{col 18}{res}{space 2}-.6283537{col 30}{space 2} .6031409{col 41}{space 1}   -1.04{col 50}{space 3}0.298{col 58}{space 4}-1.810488{col 71}{space 3} .5537807
{txt}{space 11}1988  {c |}{col 18}{res}{space 2}-.4075638{col 30}{space 2} .6008172{col 41}{space 1}   -0.68{col 50}{space 3}0.498{col 58}{space 4}-1.585144{col 71}{space 3} .7700162
{txt}{space 11}1989  {c |}{col 18}{res}{space 2}  .088479{col 30}{space 2} .5968811{col 41}{space 1}    0.15{col 50}{space 3}0.882{col 58}{space 4}-1.081386{col 71}{space 3} 1.258344
{txt}{space 11}1990  {c |}{col 18}{res}{space 2} .1646823{col 30}{space 2} .5980726{col 41}{space 1}    0.28{col 50}{space 3}0.783{col 58}{space 4}-1.007518{col 71}{space 3} 1.336883
{txt}{space 11}1991  {c |}{col 18}{res}{space 2}-.1047341{col 30}{space 2} .5964549{col 41}{space 1}   -0.18{col 50}{space 3}0.861{col 58}{space 4}-1.273764{col 71}{space 3} 1.064296
{txt}{space 11}1992  {c |}{col 18}{res}{space 2} .5973507{col 30}{space 2} .6002688{col 41}{space 1}    1.00{col 50}{space 3}0.320{col 58}{space 4}-.5791546{col 71}{space 3} 1.773856
{txt}{space 11}1993  {c |}{col 18}{res}{space 2} 1.615776{col 30}{space 2} .6016798{col 41}{space 1}    2.69{col 50}{space 3}0.007{col 58}{space 4} .4365054{col 71}{space 3} 2.795047
{txt}{space 11}1994  {c |}{col 18}{res}{space 2} 2.740853{col 30}{space 2}  .600821{col 41}{space 1}    4.56{col 50}{space 3}0.000{col 58}{space 4} 1.563266{col 71}{space 3} 3.918441
{txt}{space 11}1995  {c |}{col 18}{res}{space 2} 3.196428{col 30}{space 2} .6023937{col 41}{space 1}    5.31{col 50}{space 3}0.000{col 58}{space 4} 2.015758{col 71}{space 3} 4.377098
{txt}{space 11}1996  {c |}{col 18}{res}{space 2} 2.675922{col 30}{space 2} .6021292{col 41}{space 1}    4.44{col 50}{space 3}0.000{col 58}{space 4}  1.49577{col 71}{space 3} 3.856073
{txt}{space 11}1997  {c |}{col 18}{res}{space 2} 3.606352{col 30}{space 2} .5823154{col 41}{space 1}    6.19{col 50}{space 3}0.000{col 58}{space 4} 2.465035{col 71}{space 3} 4.747669
{txt}{space 11}1998  {c |}{col 18}{res}{space 2}  4.66906{col 30}{space 2} .5889525{col 41}{space 1}    7.93{col 50}{space 3}0.000{col 58}{space 4} 3.514735{col 71}{space 3} 5.823386
{txt}{space 11}1999  {c |}{col 18}{res}{space 2} 4.864632{col 30}{space 2} .6040423{col 41}{space 1}    8.05{col 50}{space 3}0.000{col 58}{space 4} 3.680731{col 71}{space 3} 6.048533
{txt}{space 11}2000  {c |}{col 18}{res}{space 2} 5.783576{col 30}{space 2}  .613341{col 41}{space 1}    9.43{col 50}{space 3}0.000{col 58}{space 4} 4.581449{col 71}{space 3} 6.985702
{txt}{space 11}2001  {c |}{col 18}{res}{space 2} 5.652768{col 30}{space 2} .6135623{col 41}{space 1}    9.21{col 50}{space 3}0.000{col 58}{space 4} 4.450208{col 71}{space 3} 6.855328
{txt}{space 11}2002  {c |}{col 18}{res}{space 2}  4.23232{col 30}{space 2} .6270338{col 41}{space 1}    6.75{col 50}{space 3}0.000{col 58}{space 4} 3.003356{col 71}{space 3} 5.461283
{txt}{space 11}2003  {c |}{col 18}{res}{space 2} 4.400907{col 30}{space 2} .6346757{col 41}{space 1}    6.93{col 50}{space 3}0.000{col 58}{space 4} 3.156966{col 71}{space 3} 5.644849
{txt}{space 11}2004  {c |}{col 18}{res}{space 2} 4.690511{col 30}{space 2} .6449865{col 41}{space 1}    7.27{col 50}{space 3}0.000{col 58}{space 4} 3.426361{col 71}{space 3} 5.954661
{txt}{space 11}2005  {c |}{col 18}{res}{space 2} 4.721062{col 30}{space 2} .6587176{col 41}{space 1}    7.17{col 50}{space 3}0.000{col 58}{space 4} 3.429999{col 71}{space 3} 6.012125
{txt}{space 11}2006  {c |}{col 18}{res}{space 2}  4.68768{col 30}{space 2} .6705811{col 41}{space 1}    6.99{col 50}{space 3}0.000{col 58}{space 4} 3.373365{col 71}{space 3} 6.001994
{txt}{space 11}2007  {c |}{col 18}{res}{space 2} 4.781049{col 30}{space 2} .6905784{col 41}{space 1}    6.92{col 50}{space 3}0.000{col 58}{space 4} 3.427541{col 71}{space 3} 6.134558
{txt}{space 11}2008  {c |}{col 18}{res}{space 2} 2.864351{col 30}{space 2} .7195183{col 41}{space 1}    3.98{col 50}{space 3}0.000{col 58}{space 4} 1.454121{col 71}{space 3} 4.274581
{txt}{space 11}2009  {c |}{col 18}{res}{space 2}-.1396279{col 30}{space 2} 4.106801{col 41}{space 1}   -0.03{col 50}{space 3}0.973{col 58}{space 4}-8.188811{col 71}{space 3} 7.909555
{txt}{space 11}2011  {c |}{col 18}{res}{space 2}   8.2053{col 30}{space 2} 2.999912{col 41}{space 1}    2.74{col 50}{space 3}0.006{col 58}{space 4}  2.32558{col 71}{space 3} 14.08502
{txt}{space 11}2012  {c |}{col 18}{res}{space 2} 3.204047{col 30}{space 2}  2.45916{col 41}{space 1}    1.30{col 50}{space 3}0.193{col 58}{space 4}-1.615818{col 71}{space 3} 8.023912
{txt}{space 11}2014  {c |}{col 18}{res}{space 2} 6.354187{col 30}{space 2} 2.956628{col 41}{space 1}    2.15{col 50}{space 3}0.032{col 58}{space 4} .5593024{col 71}{space 3} 12.14907
{txt}{space 11}2019  {c |}{col 18}{res}{space 2} 1.537939{col 30}{space 2}  4.16129{col 41}{space 1}    0.37{col 50}{space 3}0.712{col 58}{space 4}-6.618041{col 71}{space 3} 9.693918
{txt}{space 11}2020  {c |}{col 18}{res}{space 2} 13.19548{col 30}{space 2} 4.127319{col 41}{space 1}    3.20{col 50}{space 3}0.001{col 58}{space 4} 5.106078{col 71}{space 3} 21.28487
{txt}{space 16} {c |}
{space 11}_cons {c |}{col 18}{res}{space 2} 15.56775{col 30}{space 2} 5.647189{col 41}{space 1}    2.76{col 50}{space 3}0.006{col 58}{space 4} 4.499462{col 71}{space 3} 26.63604
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
         sigma_u {c |} {res} 8.0847347
         {txt}sigma_e {c |} {res} 3.9742857
             {txt}rho {c |} {res}    .80538{txt}   (fraction of variance due to u_i)
{hline 17}{c BT}{hline 64}

{com}. estimates store random
{txt}
{com}. hausman fixed random, sigmamore

{txt}{p 0 8}Note: the rank of the differenced variance matrix ({result:29}) does not equal the number of coefficients being tested ({result:35}); be sure this is what you expect, or there may be problems computing the test.  Examine the output of your estimators for anything unexpected and possibly consider scaling your variables so that the coefficients are on a similar scale.

{col 18}{hline 4} Coefficients {hline 4}
{col 14}{c |}{col 21}(b){col 34}(B){col 49}(b-B){col 59}sqrt(diag(V_b-V_B))
{col 14}{c |}{col 17}   fixed    {col 30}   random   {col 46}Difference{col 66}S.E.
{hline 13}{c +}{hline 64}
{space 3}hasswf2_1 {c |}{res}{col 18}-1.468537{col 31}-1.314281{col 47}-.1542557{col 63} .0731401
{txt}totalrents~1 {c |}{res}{col 18}-.2702988{col 31}-.2481911{col 47}-.0221077{col 63}  .081127
{txt}{space 2}rgdppcln_1 {c |}{res}{col 18} 2.382291{col 31} 1.814695{col 47} .5675957{col 63} .2573031
{txt}{space 1}p_polity2_1 {c |}{res}{col 18}-.0042248{col 31}-.0419484{col 47} .0377236{col 63} .0082924
{txt}{space 3}bci_bci_1 {c |}{res}{col 18}-.3246638{col 31}-.1139126{col 47}-.2107512{col 63} .0651171
{txt}{space 5}dr_sg_1 {c |}{res}{col 18} .5833858{col 31} .5688024{col 47} .0145834{col 63} .0125946
{txt}{space 8}year {c |}
{space 7}1986  {c |}{res}{col 18}  -.77147{col 31}-.7049174{col 47}-.0665526{col 63} .0206264
{txt}{space 7}1987  {c |}{res}{col 18}-.7923177{col 31}-.6283537{col 47}-.1639639{col 63} .0524789
{txt}{space 7}1988  {c |}{res}{col 18}-.6345303{col 31}-.4075638{col 47}-.2269665{col 63} .0656145
{txt}{space 7}1989  {c |}{res}{col 18}-.2380037{col 31}  .088479{col 47}-.3264827{col 63} .0861205
{txt}{space 7}1990  {c |}{res}{col 18}-.2504592{col 31} .1646823{col 47}-.4151414{col 63} .1095235
{txt}{space 7}1991  {c |}{res}{col 18}-.6000622{col 31}-.1047341{col 47}-.4953281{col 63} .1347429
{txt}{space 7}1992  {c |}{res}{col 18} .0136676{col 31} .5973507{col 47}-.5836831{col 63} .1584885
{txt}{space 7}1993  {c |}{res}{col 18} .9526027{col 31} 1.615776{col 47}-.6631734{col 63} .1812485
{txt}{space 7}1994  {c |}{res}{col 18} 2.015576{col 31} 2.740853{col 47}-.7252774{col 63} .2015832
{txt}{space 7}1995  {c |}{res}{col 18} 2.387973{col 31} 3.196428{col 47}-.8084554{col 63} .2235198
{txt}{space 7}1996  {c |}{res}{col 18} 1.790189{col 31} 2.675922{col 47}-.8857327{col 63} .2449096
{txt}{space 7}1997  {c |}{res}{col 18} 2.653209{col 31} 3.606352{col 47}-.9531432{col 63} .2679666
{txt}{space 7}1998  {c |}{res}{col 18}  3.63663{col 31}  4.66906{col 47} -1.03243{col 63} .2915701
{txt}{space 7}1999  {c |}{res}{col 18} 3.744424{col 31} 4.864632{col 47}-1.120208{col 63} .3201283
{txt}{space 7}2000  {c |}{res}{col 18} 4.577973{col 31} 5.783576{col 47}-1.205603{col 63} .3449287
{txt}{space 7}2001  {c |}{res}{col 18} 4.360307{col 31} 5.652768{col 47}-1.292461{col 63} .3675247
{txt}{space 7}2002  {c |}{res}{col 18} 2.852795{col 31}  4.23232{col 47}-1.379525{col 63} .3957088
{txt}{space 7}2003  {c |}{res}{col 18} 2.942758{col 31} 4.400907{col 47} -1.45815{col 63} .4192251
{txt}{space 7}2004  {c |}{res}{col 18} 3.159814{col 31} 4.690511{col 47}-1.530697{col 63} .4414816
{txt}{space 7}2005  {c |}{res}{col 18} 3.092596{col 31} 4.721062{col 47}-1.628466{col 63} .4706824
{txt}{space 7}2006  {c |}{res}{col 18} 2.966787{col 31}  4.68768{col 47}-1.720893{col 63}  .494939
{txt}{space 7}2007  {c |}{res}{col 18} 2.955515{col 31} 4.781049{col 47}-1.825534{col 63} .5293714
{txt}{space 7}2008  {c |}{res}{col 18} .9496519{col 31} 2.864351{col 47}-1.914699{col 63} .5603323
{txt}{space 7}2009  {c |}{res}{col 18}-1.224386{col 31}-.1396279{col 47}-1.084758{col 63} .3489455
{txt}{space 7}2011  {c |}{res}{col 18} 7.048699{col 31}   8.2053{col 47}-1.156601{col 63}  .442621
{txt}{space 7}2012  {c |}{res}{col 18} 1.524094{col 31} 3.204047{col 47}-1.679953{col 63} .5114528
{txt}{space 7}2014  {c |}{res}{col 18} 4.296126{col 31} 6.354187{col 47}-2.058061{col 63} .6372802
{txt}{space 7}2019  {c |}{res}{col 18} -.121069{col 31} 1.537939{col 47}-1.659008{col 63} .5936411
{txt}{space 7}2020  {c |}{res}{col 18} 9.736633{col 31} 13.19548{col 47}-3.458843{col 63} .9622581
{txt}{hline 13}{c BT}{hline 64}
{ralign 78:b = consistent under Ho and Ha; obtained from xtreg}
{ralign 78:B = inconsistent under Ha, efficient under Ho; obtained from xtreg}

    Test:  Ho:  difference in coefficients not systematic

{ralign 25:chi2({res:29})} = (b-B)'[(V_b-V_B)^(-1)](b-B)
{col 27}=  {res}     51.37
{txt}{col 17}Prob>chi2 =  {res}    0.0064
{txt}{col 17}(V_b-V_B is not positive definite)

{com}. 
. ***  Prob > chi2 is < 0.05, so we use fixed effects 
. 
. *** Are TIME fixed effects needed when running a FE model? Use testparm ***
. 
. xtreg dr_eg hasswf2_1 totalrentspcln_1 rgdppcln_1 p_polity2_1 bci_bci_1 dr_sg_1 i.year , fe   
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}     2,875
{txt}Group variable: {res}cowcode{txt}{col 49}Number of groups{col 67}={col 69}{res}       142

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.6435{col 63}{txt}min{col 67}={col 69}{res}         5
{txt}     between = {res}0.6819{col 63}{txt}avg{col 67}={col 69}{res}      20.2
{txt}     overall = {res}0.6872{col 63}{txt}max{col 67}={col 69}{res}        25

{txt}{col 49}F({res}35{txt},{res}2698{txt}){col 67}={col 70}{res}   139.16
{txt}corr(u_i, Xb){col 16}= {res}-0.5274{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}           dr_eg{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}hasswf2_1 {c |}{col 18}{res}{space 2}-1.468537{col 30}{space 2} .4305521{col 41}{space 1}   -3.41{col 50}{space 3}0.001{col 58}{space 4}-2.312782{col 71}{space 3}-.6242916
{txt}totalrentspcln_1 {c |}{col 18}{res}{space 2}-.2702988{col 30}{space 2} .1825401{col 41}{space 1}   -1.48{col 50}{space 3}0.139{col 58}{space 4}-.6282314{col 71}{space 3} .0876338
{txt}{space 6}rgdppcln_1 {c |}{col 18}{res}{space 2} 2.382291{col 30}{space 2} .5802556{col 41}{space 1}    4.11{col 50}{space 3}0.000{col 58}{space 4}   1.2445{col 71}{space 3} 3.520081
{txt}{space 5}p_polity2_1 {c |}{col 18}{res}{space 2}-.0042248{col 30}{space 2} .0279192{col 41}{space 1}   -0.15{col 50}{space 3}0.880{col 58}{space 4}  -.05897{col 71}{space 3} .0505204
{txt}{space 7}bci_bci_1 {c |}{col 18}{res}{space 2}-.3246638{col 30}{space 2} .0771361{col 41}{space 1}   -4.21{col 50}{space 3}0.000{col 58}{space 4}-.4759156{col 71}{space 3}-.1734119
{txt}{space 9}dr_sg_1 {c |}{col 18}{res}{space 2} .5833858{col 30}{space 2} .0325265{col 41}{space 1}   17.94{col 50}{space 3}0.000{col 58}{space 4} .5196064{col 71}{space 3} .6471651
{txt}{space 16} {c |}
{space 12}year {c |}
{space 11}1986  {c |}{col 18}{res}{space 2}  -.77147{col 30}{space 2} .6043848{col 41}{space 1}   -1.28{col 50}{space 3}0.202{col 58}{space 4}-1.956574{col 71}{space 3}  .413634
{txt}{space 11}1987  {c |}{col 18}{res}{space 2}-.7923177{col 30}{space 2} .6033009{col 41}{space 1}   -1.31{col 50}{space 3}0.189{col 58}{space 4}-1.975296{col 71}{space 3} .3906611
{txt}{space 11}1988  {c |}{col 18}{res}{space 2}-.6345303{col 30}{space 2} .6022742{col 41}{space 1}   -1.05{col 50}{space 3}0.292{col 58}{space 4}-1.815496{col 71}{space 3} .5464353
{txt}{space 11}1989  {c |}{col 18}{res}{space 2}-.2380037{col 30}{space 2} .6009515{col 41}{space 1}   -0.40{col 50}{space 3}0.692{col 58}{space 4}-1.416376{col 71}{space 3} .9403681
{txt}{space 11}1990  {c |}{col 18}{res}{space 2}-.2504592{col 30}{space 2} .6058904{col 41}{space 1}   -0.41{col 50}{space 3}0.679{col 58}{space 4}-1.438515{col 71}{space 3} .9375971
{txt}{space 11}1991  {c |}{col 18}{res}{space 2}-.6000622{col 30}{space 2} .6093452{col 41}{space 1}   -0.98{col 50}{space 3}0.325{col 58}{space 4}-1.794893{col 71}{space 3} .5947684
{txt}{space 11}1992  {c |}{col 18}{res}{space 2} .0136676{col 30}{space 2} .6186664{col 41}{space 1}    0.02{col 50}{space 3}0.982{col 58}{space 4}-1.199441{col 71}{space 3} 1.226776
{txt}{space 11}1993  {c |}{col 18}{res}{space 2} .9526027{col 30}{space 2} .6261873{col 41}{space 1}    1.52{col 50}{space 3}0.128{col 58}{space 4}-.2752527{col 71}{space 3} 2.180458
{txt}{space 11}1994  {c |}{col 18}{res}{space 2} 2.015576{col 30}{space 2} .6315183{col 41}{space 1}    3.19{col 50}{space 3}0.001{col 58}{space 4} .7772672{col 71}{space 3} 3.253885
{txt}{space 11}1995  {c |}{col 18}{res}{space 2} 2.387973{col 30}{space 2}  .640277{col 41}{space 1}    3.73{col 50}{space 3}0.000{col 58}{space 4}  1.13249{col 71}{space 3} 3.643456
{txt}{space 11}1996  {c |}{col 18}{res}{space 2} 1.790189{col 30}{space 2} .6477561{col 41}{space 1}    2.76{col 50}{space 3}0.006{col 58}{space 4} .5200409{col 71}{space 3} 3.060338
{txt}{space 11}1997  {c |}{col 18}{res}{space 2} 2.653209{col 30}{space 2} .6387693{col 41}{space 1}    4.15{col 50}{space 3}0.000{col 58}{space 4} 1.400682{col 71}{space 3} 3.905736
{txt}{space 11}1998  {c |}{col 18}{res}{space 2}  3.63663{col 30}{space 2} .6548745{col 41}{space 1}    5.55{col 50}{space 3}0.000{col 58}{space 4} 2.352524{col 71}{space 3} 4.920737
{txt}{space 11}1999  {c |}{col 18}{res}{space 2} 3.744424{col 30}{space 2} .6812369{col 41}{space 1}    5.50{col 50}{space 3}0.000{col 58}{space 4} 2.408625{col 71}{space 3} 5.080223
{txt}{space 11}2000  {c |}{col 18}{res}{space 2} 4.577973{col 30}{space 2} .7012155{col 41}{space 1}    6.53{col 50}{space 3}0.000{col 58}{space 4} 3.202999{col 71}{space 3} 5.952947
{txt}{space 11}2001  {c |}{col 18}{res}{space 2} 4.360307{col 30}{space 2} .7127124{col 41}{space 1}    6.12{col 50}{space 3}0.000{col 58}{space 4} 2.962789{col 71}{space 3} 5.757824
{txt}{space 11}2002  {c |}{col 18}{res}{space 2} 2.852795{col 30}{space 2}  .738861{col 41}{space 1}    3.86{col 50}{space 3}0.000{col 58}{space 4} 1.404004{col 71}{space 3} 4.301586
{txt}{space 11}2003  {c |}{col 18}{res}{space 2} 2.942758{col 30}{space 2} .7579713{col 41}{space 1}    3.88{col 50}{space 3}0.000{col 58}{space 4} 1.456495{col 71}{space 3} 4.429021
{txt}{space 11}2004  {c |}{col 18}{res}{space 2} 3.159814{col 30}{space 2} .7788742{col 41}{space 1}    4.06{col 50}{space 3}0.000{col 58}{space 4} 1.632563{col 71}{space 3} 4.687065
{txt}{space 11}2005  {c |}{col 18}{res}{space 2} 3.092596{col 30}{space 2} .8067658{col 41}{space 1}    3.83{col 50}{space 3}0.000{col 58}{space 4} 1.510654{col 71}{space 3} 4.674537
{txt}{space 11}2006  {c |}{col 18}{res}{space 2} 2.966787{col 30}{space 2}  .830536{col 41}{space 1}    3.57{col 50}{space 3}0.000{col 58}{space 4} 1.338235{col 71}{space 3} 4.595338
{txt}{space 11}2007  {c |}{col 18}{res}{space 2} 2.955515{col 30}{space 2} .8670884{col 41}{space 1}    3.41{col 50}{space 3}0.001{col 58}{space 4}  1.25529{col 71}{space 3}  4.65574
{txt}{space 11}2008  {c |}{col 18}{res}{space 2} .9496519{col 30}{space 2} .9087727{col 41}{space 1}    1.04{col 50}{space 3}0.296{col 58}{space 4}-.8323092{col 71}{space 3} 2.731613
{txt}{space 11}2009  {c |}{col 18}{res}{space 2}-1.224386{col 30}{space 2} 4.107175{col 41}{space 1}   -0.30{col 50}{space 3}0.766{col 58}{space 4}-9.277913{col 71}{space 3} 6.829142
{txt}{space 11}2011  {c |}{col 18}{res}{space 2} 7.048699{col 30}{space 2} 3.021777{col 41}{space 1}    2.33{col 50}{space 3}0.020{col 58}{space 4} 1.123466{col 71}{space 3} 12.97393
{txt}{space 11}2012  {c |}{col 18}{res}{space 2} 1.524094{col 30}{space 2} 2.502992{col 41}{space 1}    0.61{col 50}{space 3}0.543{col 58}{space 4}-3.383882{col 71}{space 3}  6.43207
{txt}{space 11}2014  {c |}{col 18}{res}{space 2} 4.296126{col 30}{space 2} 3.013944{col 41}{space 1}    1.43{col 50}{space 3}0.154{col 58}{space 4}-1.613747{col 71}{space 3}   10.206
{txt}{space 11}2019  {c |}{col 18}{res}{space 2} -.121069{col 30}{space 2}  4.18871{col 41}{space 1}   -0.03{col 50}{space 3}0.977{col 58}{space 4}-8.334475{col 71}{space 3} 8.092337
{txt}{space 11}2020  {c |}{col 18}{res}{space 2} 9.736633{col 30}{space 2} 4.223176{col 41}{space 1}    2.31{col 50}{space 3}0.021{col 58}{space 4} 1.455646{col 71}{space 3} 18.01762
{txt}{space 16} {c |}
{space 11}_cons {c |}{col 18}{res}{space 2} 21.37824{col 30}{space 2} 7.148509{col 41}{space 1}    2.99{col 50}{space 3}0.003{col 58}{space 4} 7.361129{col 71}{space 3} 35.39534
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
         sigma_u {c |} {res} 10.079853
         {txt}sigma_e {c |} {res} 3.9742857
             {txt}rho {c |} {res} .86545857{txt}   (fraction of variance due to u_i)
{hline 17}{c BT}{hline 64}
F test that all u_i=0: F({res}141{txt}, {res}2698{txt}) = {res}78.41{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. testparm i.year

{p 0 7}{space 1}{text:( 1)}{space 1} {res}1986.year = 0{p_end}
{p 0 7}{space 1}{text:( 2)}{space 1} 1987.year = 0{p_end}
{p 0 7}{space 1}{text:( 3)}{space 1} 1988.year = 0{p_end}
{p 0 7}{space 1}{text:( 4)}{space 1} 1989.year = 0{p_end}
{p 0 7}{space 1}{text:( 5)}{space 1} 1990.year = 0{p_end}
{p 0 7}{space 1}{text:( 6)}{space 1} 1991.year = 0{p_end}
{p 0 7}{space 1}{text:( 7)}{space 1} 1992.year = 0{p_end}
{p 0 7}{space 1}{text:( 8)}{space 1} 1993.year = 0{p_end}
{p 0 7}{space 1}{text:( 9)}{space 1} 1994.year = 0{p_end}
{p 0 7}{space 1}{text:(10)}{space 1} 1995.year = 0{p_end}
{p 0 7}{space 1}{text:(11)}{space 1} 1996.year = 0{p_end}
{p 0 7}{space 1}{text:(12)}{space 1} 1997.year = 0{p_end}
{p 0 7}{space 1}{text:(13)}{space 1} 1998.year = 0{p_end}
{p 0 7}{space 1}{text:(14)}{space 1} 1999.year = 0{p_end}
{p 0 7}{space 1}{text:(15)}{space 1} 2000.year = 0{p_end}
{p 0 7}{space 1}{text:(16)}{space 1} 2001.year = 0{p_end}
{p 0 7}{space 1}{text:(17)}{space 1} 2002.year = 0{p_end}
{p 0 7}{space 1}{text:(18)}{space 1} 2003.year = 0{p_end}
{p 0 7}{space 1}{text:(19)}{space 1} 2004.year = 0{p_end}
{p 0 7}{space 1}{text:(20)}{space 1} 2005.year = 0{p_end}
{p 0 7}{space 1}{text:(21)}{space 1} 2006.year = 0{p_end}
{p 0 7}{space 1}{text:(22)}{space 1} 2007.year = 0{p_end}
{p 0 7}{space 1}{text:(23)}{space 1} 2008.year = 0{p_end}
{p 0 7}{space 1}{text:(24)}{space 1} 2009.year = 0{p_end}
{p 0 7}{space 1}{text:(25)}{space 1} 2011.year = 0{p_end}
{p 0 7}{space 1}{text:(26)}{space 1} 2012.year = 0{p_end}
{p 0 7}{space 1}{text:(27)}{space 1} 2014.year = 0{p_end}
{p 0 7}{space 1}{text:(28)}{space 1} 2019.year = 0{p_end}
{p 0 7}{space 1}{text:(29)}{space 1} 2020.year = 0{p_end}

{txt}       F( 29,  2698) ={res}    8.30
{txt}{col 13}Prob > F ={res}    0.0000
{txt}
{com}. 
. xtreg dr_pg hasswf2_1 totalrentspcln_1 rgdppcln_1 p_polity2_1 bci_bci_1 dr_sg_1 i.year , fe    
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}     2,904
{txt}Group variable: {res}cowcode{txt}{col 49}Number of groups{col 67}={col 69}{res}       144

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.6950{col 63}{txt}min{col 67}={col 69}{res}         5
{txt}     between = {res}0.0114{col 63}{txt}avg{col 67}={col 69}{res}      20.2
{txt}     overall = {res}0.0090{col 63}{txt}max{col 67}={col 69}{res}        25

{txt}{col 49}F({res}35{txt},{res}2725{txt}){col 67}={col 70}{res}   177.44
{txt}corr(u_i, Xb){col 16}= {res}-0.4070{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}           dr_pg{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}hasswf2_1 {c |}{col 18}{res}{space 2} .2588651{col 30}{space 2} .4661342{col 41}{space 1}    0.56{col 50}{space 3}0.579{col 58}{space 4} -.655147{col 71}{space 3} 1.172877
{txt}totalrentspcln_1 {c |}{col 18}{res}{space 2}-.8652045{col 30}{space 2} .1960015{col 41}{space 1}   -4.41{col 50}{space 3}0.000{col 58}{space 4}-1.249531{col 71}{space 3} -.480878
{txt}{space 6}rgdppcln_1 {c |}{col 18}{res}{space 2} 4.513633{col 30}{space 2} .6242147{col 41}{space 1}    7.23{col 50}{space 3}0.000{col 58}{space 4} 3.289651{col 71}{space 3} 5.737615
{txt}{space 5}p_polity2_1 {c |}{col 18}{res}{space 2} .0490284{col 30}{space 2} .0302298{col 41}{space 1}    1.62{col 50}{space 3}0.105{col 58}{space 4}-.0102472{col 71}{space 3}  .108304
{txt}{space 7}bci_bci_1 {c |}{col 18}{res}{space 2} .7386154{col 30}{space 2} .0834768{col 41}{space 1}    8.85{col 50}{space 3}0.000{col 58}{space 4} .5749312{col 71}{space 3} .9022995
{txt}{space 9}dr_sg_1 {c |}{col 18}{res}{space 2} .2991182{col 30}{space 2} .0352453{col 41}{space 1}    8.49{col 50}{space 3}0.000{col 58}{space 4}  .230008{col 71}{space 3} .3682284
{txt}{space 16} {c |}
{space 12}year {c |}
{space 11}1986  {c |}{col 18}{res}{space 2} .4166695{col 30}{space 2} .6522264{col 41}{space 1}    0.64{col 50}{space 3}0.523{col 58}{space 4}-.8622388{col 71}{space 3} 1.695578
{txt}{space 11}1987  {c |}{col 18}{res}{space 2}-.9116069{col 30}{space 2} .6513824{col 41}{space 1}   -1.40{col 50}{space 3}0.162{col 58}{space 4} -2.18886{col 71}{space 3} .3656464
{txt}{space 11}1988  {c |}{col 18}{res}{space 2}-1.437889{col 30}{space 2} .6502734{col 41}{space 1}   -2.21{col 50}{space 3}0.027{col 58}{space 4}-2.712968{col 71}{space 3}-.1628101
{txt}{space 11}1989  {c |}{col 18}{res}{space 2} -1.42681{col 30}{space 2} .6488272{col 41}{space 1}   -2.20{col 50}{space 3}0.028{col 58}{space 4}-2.699053{col 71}{space 3}-.1545675
{txt}{space 11}1990  {c |}{col 18}{res}{space 2}-.9865856{col 30}{space 2} .6541335{col 41}{space 1}   -1.51{col 50}{space 3}0.132{col 58}{space 4}-2.269233{col 71}{space 3} .2960621
{txt}{space 11}1991  {c |}{col 18}{res}{space 2} 2.573748{col 30}{space 2}  .657848{col 41}{space 1}    3.91{col 50}{space 3}0.000{col 58}{space 4} 1.283816{col 71}{space 3} 3.863679
{txt}{space 11}1992  {c |}{col 18}{res}{space 2} 4.155095{col 30}{space 2} .6693145{col 41}{space 1}    6.21{col 50}{space 3}0.000{col 58}{space 4}  2.84268{col 71}{space 3}  5.46751
{txt}{space 11}1993  {c |}{col 18}{res}{space 2} 6.232496{col 30}{space 2} .6774979{col 41}{space 1}    9.20{col 50}{space 3}0.000{col 58}{space 4} 4.904034{col 71}{space 3} 7.560957
{txt}{space 11}1994  {c |}{col 18}{res}{space 2}  7.54928{col 30}{space 2} .6833869{col 41}{space 1}   11.05{col 50}{space 3}0.000{col 58}{space 4} 6.209271{col 71}{space 3} 8.889289
{txt}{space 11}1995  {c |}{col 18}{res}{space 2} 8.580497{col 30}{space 2} .6928615{col 41}{space 1}   12.38{col 50}{space 3}0.000{col 58}{space 4}  7.22191{col 71}{space 3} 9.939084
{txt}{space 11}1996  {c |}{col 18}{res}{space 2} 8.581609{col 30}{space 2} .7009788{col 41}{space 1}   12.24{col 50}{space 3}0.000{col 58}{space 4} 7.207106{col 71}{space 3} 9.956113
{txt}{space 11}1997  {c |}{col 18}{res}{space 2} 8.574971{col 30}{space 2} .6916284{col 41}{space 1}   12.40{col 50}{space 3}0.000{col 58}{space 4} 7.218802{col 71}{space 3}  9.93114
{txt}{space 11}1998  {c |}{col 18}{res}{space 2} 8.977329{col 30}{space 2} .7090702{col 41}{space 1}   12.66{col 50}{space 3}0.000{col 58}{space 4}  7.58696{col 71}{space 3}  10.3677
{txt}{space 11}1999  {c |}{col 18}{res}{space 2} 10.04187{col 30}{space 2} .7375773{col 41}{space 1}   13.61{col 50}{space 3}0.000{col 58}{space 4} 8.595607{col 71}{space 3} 11.48814
{txt}{space 11}2000  {c |}{col 18}{res}{space 2} 10.78729{col 30}{space 2} .7591272{col 41}{space 1}   14.21{col 50}{space 3}0.000{col 58}{space 4} 9.298762{col 71}{space 3} 12.27581
{txt}{space 11}2001  {c |}{col 18}{res}{space 2} 11.78413{col 30}{space 2} .7715554{col 41}{space 1}   15.27{col 50}{space 3}0.000{col 58}{space 4} 10.27123{col 71}{space 3} 13.29702
{txt}{space 11}2002  {c |}{col 18}{res}{space 2} 11.01071{col 30}{space 2} .8000193{col 41}{space 1}   13.76{col 50}{space 3}0.000{col 58}{space 4}    9.442{col 71}{space 3} 12.57941
{txt}{space 11}2003  {c |}{col 18}{res}{space 2} 12.22685{col 30}{space 2} .8207312{col 41}{space 1}   14.90{col 50}{space 3}0.000{col 58}{space 4} 10.61753{col 71}{space 3} 13.83617
{txt}{space 11}2004  {c |}{col 18}{res}{space 2} 13.36533{col 30}{space 2} .8434859{col 41}{space 1}   15.85{col 50}{space 3}0.000{col 58}{space 4} 11.71139{col 71}{space 3} 15.01927
{txt}{space 11}2005  {c |}{col 18}{res}{space 2}  13.7263{col 30}{space 2}  .873827{col 41}{space 1}   15.71{col 50}{space 3}0.000{col 58}{space 4} 12.01287{col 71}{space 3} 15.43973
{txt}{space 11}2006  {c |}{col 18}{res}{space 2} 15.08898{col 30}{space 2} .8995193{col 41}{space 1}   16.77{col 50}{space 3}0.000{col 58}{space 4} 13.32518{col 71}{space 3} 16.85279
{txt}{space 11}2007  {c |}{col 18}{res}{space 2} 16.19938{col 30}{space 2} .9391898{col 41}{space 1}   17.25{col 50}{space 3}0.000{col 58}{space 4} 14.35778{col 71}{space 3} 18.04098
{txt}{space 11}2008  {c |}{col 18}{res}{space 2} 16.49566{col 30}{space 2} .9844199{col 41}{space 1}   16.76{col 50}{space 3}0.000{col 58}{space 4} 14.56537{col 71}{space 3} 18.42594
{txt}{space 11}2009  {c |}{col 18}{res}{space 2} 16.64953{col 30}{space 2} 4.452089{col 41}{space 1}    3.74{col 50}{space 3}0.000{col 58}{space 4} 7.919717{col 71}{space 3} 25.37934
{txt}{space 11}2011  {c |}{col 18}{res}{space 2} 17.65102{col 30}{space 2} 3.275518{col 41}{space 1}    5.39{col 50}{space 3}0.000{col 58}{space 4} 11.22827{col 71}{space 3} 24.07377
{txt}{space 11}2012  {c |}{col 18}{res}{space 2} 22.80837{col 30}{space 2} 2.713051{col 41}{space 1}    8.41{col 50}{space 3}0.000{col 58}{space 4} 17.48852{col 71}{space 3} 28.12822
{txt}{space 11}2014  {c |}{col 18}{res}{space 2} 11.46151{col 30}{space 2} 3.266969{col 41}{space 1}    3.51{col 50}{space 3}0.000{col 58}{space 4} 5.055525{col 71}{space 3}  17.8675
{txt}{space 11}2019  {c |}{col 18}{res}{space 2} 16.00098{col 30}{space 2} 4.540372{col 41}{space 1}    3.52{col 50}{space 3}0.000{col 58}{space 4} 7.098062{col 71}{space 3}  24.9039
{txt}{space 11}2020  {c |}{col 18}{res}{space 2} 25.42829{col 30}{space 2} 4.577732{col 41}{space 1}    5.55{col 50}{space 3}0.000{col 58}{space 4} 16.45211{col 71}{space 3} 34.40446
{txt}{space 16} {c |}
{space 11}_cons {c |}{col 18}{res}{space 2} -24.4011{col 30}{space 2} 7.715094{col 41}{space 1}   -3.16{col 50}{space 3}0.002{col 58}{space 4}-39.52913{col 71}{space 3}-9.273079
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
         sigma_u {c |} {res} 20.835796
         {txt}sigma_e {c |} {res} 4.3080948
             {txt}rho {c |} {res} .95900135{txt}   (fraction of variance due to u_i)
{hline 17}{c BT}{hline 64}
F test that all u_i=0: F({res}143{txt}, {res}2725{txt}) = {res}196.95{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. testparm i.year

{p 0 7}{space 1}{text:( 1)}{space 1} {res}1986.year = 0{p_end}
{p 0 7}{space 1}{text:( 2)}{space 1} 1987.year = 0{p_end}
{p 0 7}{space 1}{text:( 3)}{space 1} 1988.year = 0{p_end}
{p 0 7}{space 1}{text:( 4)}{space 1} 1989.year = 0{p_end}
{p 0 7}{space 1}{text:( 5)}{space 1} 1990.year = 0{p_end}
{p 0 7}{space 1}{text:( 6)}{space 1} 1991.year = 0{p_end}
{p 0 7}{space 1}{text:( 7)}{space 1} 1992.year = 0{p_end}
{p 0 7}{space 1}{text:( 8)}{space 1} 1993.year = 0{p_end}
{p 0 7}{space 1}{text:( 9)}{space 1} 1994.year = 0{p_end}
{p 0 7}{space 1}{text:(10)}{space 1} 1995.year = 0{p_end}
{p 0 7}{space 1}{text:(11)}{space 1} 1996.year = 0{p_end}
{p 0 7}{space 1}{text:(12)}{space 1} 1997.year = 0{p_end}
{p 0 7}{space 1}{text:(13)}{space 1} 1998.year = 0{p_end}
{p 0 7}{space 1}{text:(14)}{space 1} 1999.year = 0{p_end}
{p 0 7}{space 1}{text:(15)}{space 1} 2000.year = 0{p_end}
{p 0 7}{space 1}{text:(16)}{space 1} 2001.year = 0{p_end}
{p 0 7}{space 1}{text:(17)}{space 1} 2002.year = 0{p_end}
{p 0 7}{space 1}{text:(18)}{space 1} 2003.year = 0{p_end}
{p 0 7}{space 1}{text:(19)}{space 1} 2004.year = 0{p_end}
{p 0 7}{space 1}{text:(20)}{space 1} 2005.year = 0{p_end}
{p 0 7}{space 1}{text:(21)}{space 1} 2006.year = 0{p_end}
{p 0 7}{space 1}{text:(22)}{space 1} 2007.year = 0{p_end}
{p 0 7}{space 1}{text:(23)}{space 1} 2008.year = 0{p_end}
{p 0 7}{space 1}{text:(24)}{space 1} 2009.year = 0{p_end}
{p 0 7}{space 1}{text:(25)}{space 1} 2011.year = 0{p_end}
{p 0 7}{space 1}{text:(26)}{space 1} 2012.year = 0{p_end}
{p 0 7}{space 1}{text:(27)}{space 1} 2014.year = 0{p_end}
{p 0 7}{space 1}{text:(28)}{space 1} 2019.year = 0{p_end}
{p 0 7}{space 1}{text:(29)}{space 1} 2020.year = 0{p_end}

{txt}       F( 29,  2725) ={res}   29.29
{txt}{col 13}Prob > F ={res}    0.0000
{txt}
{com}. 
. xtreg bti_ic2 hasswf2_1 totalrentspcln_1 rgdppcln_1 p_polity2_1 bci_bci_1 dr_sg_1  i.year , fe  
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       421
{txt}Group variable: {res}cowcode{txt}{col 49}Number of groups{col 67}={col 69}{res}       109

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.1944{col 63}{txt}min{col 67}={col 69}{res}         1
{txt}     between = {res}0.1320{col 63}{txt}avg{col 67}={col 69}{res}       3.9
{txt}     overall = {res}0.1218{col 63}{txt}max{col 67}={col 69}{res}         5

{txt}{col 49}F({res}15{txt},{res}297{txt}){col 67}={col 70}{res}     4.78
{txt}corr(u_i, Xb){col 16}= {res}-0.4760{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}         bti_ic2{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}hasswf2_1 {c |}{col 18}{res}{space 2}-.4355046{col 30}{space 2} .2549808{col 41}{space 1}   -1.71{col 50}{space 3}0.089{col 58}{space 4}-.9373026{col 71}{space 3} .0662935
{txt}totalrentspcln_1 {c |}{col 18}{res}{space 2}-.0299591{col 30}{space 2} .0985829{col 41}{space 1}   -0.30{col 50}{space 3}0.761{col 58}{space 4}-.2239687{col 71}{space 3} .1640505
{txt}{space 6}rgdppcln_1 {c |}{col 18}{res}{space 2}-.4229643{col 30}{space 2} .3969824{col 41}{space 1}   -1.07{col 50}{space 3}0.288{col 58}{space 4}-1.204219{col 71}{space 3} .3582906
{txt}{space 5}p_polity2_1 {c |}{col 18}{res}{space 2} .0006829{col 30}{space 2} .0173627{col 41}{space 1}    0.04{col 50}{space 3}0.969{col 58}{space 4}-.0334866{col 71}{space 3} .0348524
{txt}{space 7}bci_bci_1 {c |}{col 18}{res}{space 2}-.1495198{col 30}{space 2} .0594361{col 41}{space 1}   -2.52{col 50}{space 3}0.012{col 58}{space 4} -.266489{col 71}{space 3}-.0325505
{txt}{space 9}dr_sg_1 {c |}{col 18}{res}{space 2}-.0057182{col 30}{space 2}  .019788{col 41}{space 1}   -0.29{col 50}{space 3}0.773{col 58}{space 4}-.0446607{col 71}{space 3} .0332243
{txt}{space 16} {c |}
{space 12}year {c |}
{space 11}2006  {c |}{col 18}{res}{space 2}  .032228{col 30}{space 2}  .066835{col 41}{space 1}    0.48{col 50}{space 3}0.630{col 58}{space 4}-.0993022{col 71}{space 3} .1637582
{txt}{space 11}2007  {c |}{col 18}{res}{space 2} .0791434{col 30}{space 2} .0952374{col 41}{space 1}    0.83{col 50}{space 3}0.407{col 58}{space 4}-.1082822{col 71}{space 3} .2665691
{txt}{space 11}2008  {c |}{col 18}{res}{space 2} .0171016{col 30}{space 2} .1326514{col 41}{space 1}    0.13{col 50}{space 3}0.898{col 58}{space 4}-.2439542{col 71}{space 3} .2781574
{txt}{space 11}2009  {c |}{col 18}{res}{space 2}-1.312158{col 30}{space 2} .5975446{col 41}{space 1}   -2.20{col 50}{space 3}0.029{col 58}{space 4}-2.488116{col 71}{space 3}-.1362002
{txt}{space 11}2011  {c |}{col 18}{res}{space 2}-.7599599{col 30}{space 2} .3525827{col 41}{space 1}   -2.16{col 50}{space 3}0.032{col 58}{space 4}-1.453837{col 71}{space 3} -.066083
{txt}{space 11}2012  {c |}{col 18}{res}{space 2} .2879628{col 30}{space 2} .4421456{col 41}{space 1}    0.65{col 50}{space 3}0.515{col 58}{space 4}-.5821724{col 71}{space 3} 1.158098
{txt}{space 11}2014  {c |}{col 18}{res}{space 2}-1.614329{col 30}{space 2} .4697393{col 41}{space 1}   -3.44{col 50}{space 3}0.001{col 58}{space 4}-2.538769{col 71}{space 3}-.6898902
{txt}{space 11}2019  {c |}{col 18}{res}{space 2}-2.639465{col 30}{space 2} .5105032{col 41}{space 1}   -5.17{col 50}{space 3}0.000{col 58}{space 4}-3.644127{col 71}{space 3}-1.634803
{txt}{space 11}2020  {c |}{col 18}{res}{space 2} 1.147543{col 30}{space 2} .5443537{col 41}{space 1}    2.11{col 50}{space 3}0.036{col 58}{space 4} .0762644{col 71}{space 3} 2.218823
{txt}{space 16} {c |}
{space 11}_cons {c |}{col 18}{res}{space 2} 19.43517{col 30}{space 2} 5.354673{col 41}{space 1}    3.63{col 50}{space 3}0.000{col 58}{space 4} 8.897262{col 71}{space 3} 29.97308
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
         sigma_u {c |} {res} 1.9431899
         {txt}sigma_e {c |} {res}  .4165904
             {txt}rho {c |} {res} .95605873{txt}   (fraction of variance due to u_i)
{hline 17}{c BT}{hline 64}
F test that all u_i=0: F({res}108{txt}, {res}297{txt}) = {res}27.45{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. testparm i.year

{p 0 7}{space 1}{text:( 1)}{space 1} {res}2006.year = 0{p_end}
{p 0 7}{space 1}{text:( 2)}{space 1} 2007.year = 0{p_end}
{p 0 7}{space 1}{text:( 3)}{space 1} 2008.year = 0{p_end}
{p 0 7}{space 1}{text:( 4)}{space 1} 2009.year = 0{p_end}
{p 0 7}{space 1}{text:( 5)}{space 1} 2011.year = 0{p_end}
{p 0 7}{space 1}{text:( 6)}{space 1} 2012.year = 0{p_end}
{p 0 7}{space 1}{text:( 7)}{space 1} 2014.year = 0{p_end}
{p 0 7}{space 1}{text:( 8)}{space 1} 2019.year = 0{p_end}
{p 0 7}{space 1}{text:( 9)}{space 1} 2020.year = 0{p_end}

{txt}       F(  9,   297) ={res}    6.72
{txt}{col 13}Prob > F ={res}    0.0000
{txt}
{com}. 
. *** The Prob > F is < 0.05 for all three models, we fail to accept the null that the coefficients for the years are jointly equal to zero. In this case, time fixed effects are needed.
. 
. *** We conclude: Use time fixed effects 
. 
. *** Now testing for HETEROSKEDASTICITY - modified Wald test for heteroskedasticity in FE regression ***
. 
. xtreg dr_eg hasswf2_1 totalrentspcln_1 rgdppcln_1 p_polity2_1 bci_bci_1 dr_sg_1 i.year , fe    
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}     2,875
{txt}Group variable: {res}cowcode{txt}{col 49}Number of groups{col 67}={col 69}{res}       142

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.6435{col 63}{txt}min{col 67}={col 69}{res}         5
{txt}     between = {res}0.6819{col 63}{txt}avg{col 67}={col 69}{res}      20.2
{txt}     overall = {res}0.6872{col 63}{txt}max{col 67}={col 69}{res}        25

{txt}{col 49}F({res}35{txt},{res}2698{txt}){col 67}={col 70}{res}   139.16
{txt}corr(u_i, Xb){col 16}= {res}-0.5274{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}           dr_eg{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}hasswf2_1 {c |}{col 18}{res}{space 2}-1.468537{col 30}{space 2} .4305521{col 41}{space 1}   -3.41{col 50}{space 3}0.001{col 58}{space 4}-2.312782{col 71}{space 3}-.6242916
{txt}totalrentspcln_1 {c |}{col 18}{res}{space 2}-.2702988{col 30}{space 2} .1825401{col 41}{space 1}   -1.48{col 50}{space 3}0.139{col 58}{space 4}-.6282314{col 71}{space 3} .0876338
{txt}{space 6}rgdppcln_1 {c |}{col 18}{res}{space 2} 2.382291{col 30}{space 2} .5802556{col 41}{space 1}    4.11{col 50}{space 3}0.000{col 58}{space 4}   1.2445{col 71}{space 3} 3.520081
{txt}{space 5}p_polity2_1 {c |}{col 18}{res}{space 2}-.0042248{col 30}{space 2} .0279192{col 41}{space 1}   -0.15{col 50}{space 3}0.880{col 58}{space 4}  -.05897{col 71}{space 3} .0505204
{txt}{space 7}bci_bci_1 {c |}{col 18}{res}{space 2}-.3246638{col 30}{space 2} .0771361{col 41}{space 1}   -4.21{col 50}{space 3}0.000{col 58}{space 4}-.4759156{col 71}{space 3}-.1734119
{txt}{space 9}dr_sg_1 {c |}{col 18}{res}{space 2} .5833858{col 30}{space 2} .0325265{col 41}{space 1}   17.94{col 50}{space 3}0.000{col 58}{space 4} .5196064{col 71}{space 3} .6471651
{txt}{space 16} {c |}
{space 12}year {c |}
{space 11}1986  {c |}{col 18}{res}{space 2}  -.77147{col 30}{space 2} .6043848{col 41}{space 1}   -1.28{col 50}{space 3}0.202{col 58}{space 4}-1.956574{col 71}{space 3}  .413634
{txt}{space 11}1987  {c |}{col 18}{res}{space 2}-.7923177{col 30}{space 2} .6033009{col 41}{space 1}   -1.31{col 50}{space 3}0.189{col 58}{space 4}-1.975296{col 71}{space 3} .3906611
{txt}{space 11}1988  {c |}{col 18}{res}{space 2}-.6345303{col 30}{space 2} .6022742{col 41}{space 1}   -1.05{col 50}{space 3}0.292{col 58}{space 4}-1.815496{col 71}{space 3} .5464353
{txt}{space 11}1989  {c |}{col 18}{res}{space 2}-.2380037{col 30}{space 2} .6009515{col 41}{space 1}   -0.40{col 50}{space 3}0.692{col 58}{space 4}-1.416376{col 71}{space 3} .9403681
{txt}{space 11}1990  {c |}{col 18}{res}{space 2}-.2504592{col 30}{space 2} .6058904{col 41}{space 1}   -0.41{col 50}{space 3}0.679{col 58}{space 4}-1.438515{col 71}{space 3} .9375971
{txt}{space 11}1991  {c |}{col 18}{res}{space 2}-.6000622{col 30}{space 2} .6093452{col 41}{space 1}   -0.98{col 50}{space 3}0.325{col 58}{space 4}-1.794893{col 71}{space 3} .5947684
{txt}{space 11}1992  {c |}{col 18}{res}{space 2} .0136676{col 30}{space 2} .6186664{col 41}{space 1}    0.02{col 50}{space 3}0.982{col 58}{space 4}-1.199441{col 71}{space 3} 1.226776
{txt}{space 11}1993  {c |}{col 18}{res}{space 2} .9526027{col 30}{space 2} .6261873{col 41}{space 1}    1.52{col 50}{space 3}0.128{col 58}{space 4}-.2752527{col 71}{space 3} 2.180458
{txt}{space 11}1994  {c |}{col 18}{res}{space 2} 2.015576{col 30}{space 2} .6315183{col 41}{space 1}    3.19{col 50}{space 3}0.001{col 58}{space 4} .7772672{col 71}{space 3} 3.253885
{txt}{space 11}1995  {c |}{col 18}{res}{space 2} 2.387973{col 30}{space 2}  .640277{col 41}{space 1}    3.73{col 50}{space 3}0.000{col 58}{space 4}  1.13249{col 71}{space 3} 3.643456
{txt}{space 11}1996  {c |}{col 18}{res}{space 2} 1.790189{col 30}{space 2} .6477561{col 41}{space 1}    2.76{col 50}{space 3}0.006{col 58}{space 4} .5200409{col 71}{space 3} 3.060338
{txt}{space 11}1997  {c |}{col 18}{res}{space 2} 2.653209{col 30}{space 2} .6387693{col 41}{space 1}    4.15{col 50}{space 3}0.000{col 58}{space 4} 1.400682{col 71}{space 3} 3.905736
{txt}{space 11}1998  {c |}{col 18}{res}{space 2}  3.63663{col 30}{space 2} .6548745{col 41}{space 1}    5.55{col 50}{space 3}0.000{col 58}{space 4} 2.352524{col 71}{space 3} 4.920737
{txt}{space 11}1999  {c |}{col 18}{res}{space 2} 3.744424{col 30}{space 2} .6812369{col 41}{space 1}    5.50{col 50}{space 3}0.000{col 58}{space 4} 2.408625{col 71}{space 3} 5.080223
{txt}{space 11}2000  {c |}{col 18}{res}{space 2} 4.577973{col 30}{space 2} .7012155{col 41}{space 1}    6.53{col 50}{space 3}0.000{col 58}{space 4} 3.202999{col 71}{space 3} 5.952947
{txt}{space 11}2001  {c |}{col 18}{res}{space 2} 4.360307{col 30}{space 2} .7127124{col 41}{space 1}    6.12{col 50}{space 3}0.000{col 58}{space 4} 2.962789{col 71}{space 3} 5.757824
{txt}{space 11}2002  {c |}{col 18}{res}{space 2} 2.852795{col 30}{space 2}  .738861{col 41}{space 1}    3.86{col 50}{space 3}0.000{col 58}{space 4} 1.404004{col 71}{space 3} 4.301586
{txt}{space 11}2003  {c |}{col 18}{res}{space 2} 2.942758{col 30}{space 2} .7579713{col 41}{space 1}    3.88{col 50}{space 3}0.000{col 58}{space 4} 1.456495{col 71}{space 3} 4.429021
{txt}{space 11}2004  {c |}{col 18}{res}{space 2} 3.159814{col 30}{space 2} .7788742{col 41}{space 1}    4.06{col 50}{space 3}0.000{col 58}{space 4} 1.632563{col 71}{space 3} 4.687065
{txt}{space 11}2005  {c |}{col 18}{res}{space 2} 3.092596{col 30}{space 2} .8067658{col 41}{space 1}    3.83{col 50}{space 3}0.000{col 58}{space 4} 1.510654{col 71}{space 3} 4.674537
{txt}{space 11}2006  {c |}{col 18}{res}{space 2} 2.966787{col 30}{space 2}  .830536{col 41}{space 1}    3.57{col 50}{space 3}0.000{col 58}{space 4} 1.338235{col 71}{space 3} 4.595338
{txt}{space 11}2007  {c |}{col 18}{res}{space 2} 2.955515{col 30}{space 2} .8670884{col 41}{space 1}    3.41{col 50}{space 3}0.001{col 58}{space 4}  1.25529{col 71}{space 3}  4.65574
{txt}{space 11}2008  {c |}{col 18}{res}{space 2} .9496519{col 30}{space 2} .9087727{col 41}{space 1}    1.04{col 50}{space 3}0.296{col 58}{space 4}-.8323092{col 71}{space 3} 2.731613
{txt}{space 11}2009  {c |}{col 18}{res}{space 2}-1.224386{col 30}{space 2} 4.107175{col 41}{space 1}   -0.30{col 50}{space 3}0.766{col 58}{space 4}-9.277913{col 71}{space 3} 6.829142
{txt}{space 11}2011  {c |}{col 18}{res}{space 2} 7.048699{col 30}{space 2} 3.021777{col 41}{space 1}    2.33{col 50}{space 3}0.020{col 58}{space 4} 1.123466{col 71}{space 3} 12.97393
{txt}{space 11}2012  {c |}{col 18}{res}{space 2} 1.524094{col 30}{space 2} 2.502992{col 41}{space 1}    0.61{col 50}{space 3}0.543{col 58}{space 4}-3.383882{col 71}{space 3}  6.43207
{txt}{space 11}2014  {c |}{col 18}{res}{space 2} 4.296126{col 30}{space 2} 3.013944{col 41}{space 1}    1.43{col 50}{space 3}0.154{col 58}{space 4}-1.613747{col 71}{space 3}   10.206
{txt}{space 11}2019  {c |}{col 18}{res}{space 2} -.121069{col 30}{space 2}  4.18871{col 41}{space 1}   -0.03{col 50}{space 3}0.977{col 58}{space 4}-8.334475{col 71}{space 3} 8.092337
{txt}{space 11}2020  {c |}{col 18}{res}{space 2} 9.736633{col 30}{space 2} 4.223176{col 41}{space 1}    2.31{col 50}{space 3}0.021{col 58}{space 4} 1.455646{col 71}{space 3} 18.01762
{txt}{space 16} {c |}
{space 11}_cons {c |}{col 18}{res}{space 2} 21.37824{col 30}{space 2} 7.148509{col 41}{space 1}    2.99{col 50}{space 3}0.003{col 58}{space 4} 7.361129{col 71}{space 3} 35.39534
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
         sigma_u {c |} {res} 10.079853
         {txt}sigma_e {c |} {res} 3.9742857
             {txt}rho {c |} {res} .86545857{txt}   (fraction of variance due to u_i)
{hline 17}{c BT}{hline 64}
F test that all u_i=0: F({res}141{txt}, {res}2698{txt}) = {res}78.41{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. xttest3

{txt}Modified Wald test for groupwise heteroskedasticity
in fixed effect regression model

{res}H0: sigma(i)^2 = sigma^2 for all i

{txt}chi2 (142)  =  {res}26230.06
{txt}Prob>chi2 =    {res}  0.0000

{txt}
{com}. 
. xtreg dr_pg hasswf2_1 totalrentspcln_1 rgdppcln_1 p_polity2_1 bci_bci_1 dr_sg_1 i.year , fe    
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}     2,904
{txt}Group variable: {res}cowcode{txt}{col 49}Number of groups{col 67}={col 69}{res}       144

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.6950{col 63}{txt}min{col 67}={col 69}{res}         5
{txt}     between = {res}0.0114{col 63}{txt}avg{col 67}={col 69}{res}      20.2
{txt}     overall = {res}0.0090{col 63}{txt}max{col 67}={col 69}{res}        25

{txt}{col 49}F({res}35{txt},{res}2725{txt}){col 67}={col 70}{res}   177.44
{txt}corr(u_i, Xb){col 16}= {res}-0.4070{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}           dr_pg{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}hasswf2_1 {c |}{col 18}{res}{space 2} .2588651{col 30}{space 2} .4661342{col 41}{space 1}    0.56{col 50}{space 3}0.579{col 58}{space 4} -.655147{col 71}{space 3} 1.172877
{txt}totalrentspcln_1 {c |}{col 18}{res}{space 2}-.8652045{col 30}{space 2} .1960015{col 41}{space 1}   -4.41{col 50}{space 3}0.000{col 58}{space 4}-1.249531{col 71}{space 3} -.480878
{txt}{space 6}rgdppcln_1 {c |}{col 18}{res}{space 2} 4.513633{col 30}{space 2} .6242147{col 41}{space 1}    7.23{col 50}{space 3}0.000{col 58}{space 4} 3.289651{col 71}{space 3} 5.737615
{txt}{space 5}p_polity2_1 {c |}{col 18}{res}{space 2} .0490284{col 30}{space 2} .0302298{col 41}{space 1}    1.62{col 50}{space 3}0.105{col 58}{space 4}-.0102472{col 71}{space 3}  .108304
{txt}{space 7}bci_bci_1 {c |}{col 18}{res}{space 2} .7386154{col 30}{space 2} .0834768{col 41}{space 1}    8.85{col 50}{space 3}0.000{col 58}{space 4} .5749312{col 71}{space 3} .9022995
{txt}{space 9}dr_sg_1 {c |}{col 18}{res}{space 2} .2991182{col 30}{space 2} .0352453{col 41}{space 1}    8.49{col 50}{space 3}0.000{col 58}{space 4}  .230008{col 71}{space 3} .3682284
{txt}{space 16} {c |}
{space 12}year {c |}
{space 11}1986  {c |}{col 18}{res}{space 2} .4166695{col 30}{space 2} .6522264{col 41}{space 1}    0.64{col 50}{space 3}0.523{col 58}{space 4}-.8622388{col 71}{space 3} 1.695578
{txt}{space 11}1987  {c |}{col 18}{res}{space 2}-.9116069{col 30}{space 2} .6513824{col 41}{space 1}   -1.40{col 50}{space 3}0.162{col 58}{space 4} -2.18886{col 71}{space 3} .3656464
{txt}{space 11}1988  {c |}{col 18}{res}{space 2}-1.437889{col 30}{space 2} .6502734{col 41}{space 1}   -2.21{col 50}{space 3}0.027{col 58}{space 4}-2.712968{col 71}{space 3}-.1628101
{txt}{space 11}1989  {c |}{col 18}{res}{space 2} -1.42681{col 30}{space 2} .6488272{col 41}{space 1}   -2.20{col 50}{space 3}0.028{col 58}{space 4}-2.699053{col 71}{space 3}-.1545675
{txt}{space 11}1990  {c |}{col 18}{res}{space 2}-.9865856{col 30}{space 2} .6541335{col 41}{space 1}   -1.51{col 50}{space 3}0.132{col 58}{space 4}-2.269233{col 71}{space 3} .2960621
{txt}{space 11}1991  {c |}{col 18}{res}{space 2} 2.573748{col 30}{space 2}  .657848{col 41}{space 1}    3.91{col 50}{space 3}0.000{col 58}{space 4} 1.283816{col 71}{space 3} 3.863679
{txt}{space 11}1992  {c |}{col 18}{res}{space 2} 4.155095{col 30}{space 2} .6693145{col 41}{space 1}    6.21{col 50}{space 3}0.000{col 58}{space 4}  2.84268{col 71}{space 3}  5.46751
{txt}{space 11}1993  {c |}{col 18}{res}{space 2} 6.232496{col 30}{space 2} .6774979{col 41}{space 1}    9.20{col 50}{space 3}0.000{col 58}{space 4} 4.904034{col 71}{space 3} 7.560957
{txt}{space 11}1994  {c |}{col 18}{res}{space 2}  7.54928{col 30}{space 2} .6833869{col 41}{space 1}   11.05{col 50}{space 3}0.000{col 58}{space 4} 6.209271{col 71}{space 3} 8.889289
{txt}{space 11}1995  {c |}{col 18}{res}{space 2} 8.580497{col 30}{space 2} .6928615{col 41}{space 1}   12.38{col 50}{space 3}0.000{col 58}{space 4}  7.22191{col 71}{space 3} 9.939084
{txt}{space 11}1996  {c |}{col 18}{res}{space 2} 8.581609{col 30}{space 2} .7009788{col 41}{space 1}   12.24{col 50}{space 3}0.000{col 58}{space 4} 7.207106{col 71}{space 3} 9.956113
{txt}{space 11}1997  {c |}{col 18}{res}{space 2} 8.574971{col 30}{space 2} .6916284{col 41}{space 1}   12.40{col 50}{space 3}0.000{col 58}{space 4} 7.218802{col 71}{space 3}  9.93114
{txt}{space 11}1998  {c |}{col 18}{res}{space 2} 8.977329{col 30}{space 2} .7090702{col 41}{space 1}   12.66{col 50}{space 3}0.000{col 58}{space 4}  7.58696{col 71}{space 3}  10.3677
{txt}{space 11}1999  {c |}{col 18}{res}{space 2} 10.04187{col 30}{space 2} .7375773{col 41}{space 1}   13.61{col 50}{space 3}0.000{col 58}{space 4} 8.595607{col 71}{space 3} 11.48814
{txt}{space 11}2000  {c |}{col 18}{res}{space 2} 10.78729{col 30}{space 2} .7591272{col 41}{space 1}   14.21{col 50}{space 3}0.000{col 58}{space 4} 9.298762{col 71}{space 3} 12.27581
{txt}{space 11}2001  {c |}{col 18}{res}{space 2} 11.78413{col 30}{space 2} .7715554{col 41}{space 1}   15.27{col 50}{space 3}0.000{col 58}{space 4} 10.27123{col 71}{space 3} 13.29702
{txt}{space 11}2002  {c |}{col 18}{res}{space 2} 11.01071{col 30}{space 2} .8000193{col 41}{space 1}   13.76{col 50}{space 3}0.000{col 58}{space 4}    9.442{col 71}{space 3} 12.57941
{txt}{space 11}2003  {c |}{col 18}{res}{space 2} 12.22685{col 30}{space 2} .8207312{col 41}{space 1}   14.90{col 50}{space 3}0.000{col 58}{space 4} 10.61753{col 71}{space 3} 13.83617
{txt}{space 11}2004  {c |}{col 18}{res}{space 2} 13.36533{col 30}{space 2} .8434859{col 41}{space 1}   15.85{col 50}{space 3}0.000{col 58}{space 4} 11.71139{col 71}{space 3} 15.01927
{txt}{space 11}2005  {c |}{col 18}{res}{space 2}  13.7263{col 30}{space 2}  .873827{col 41}{space 1}   15.71{col 50}{space 3}0.000{col 58}{space 4} 12.01287{col 71}{space 3} 15.43973
{txt}{space 11}2006  {c |}{col 18}{res}{space 2} 15.08898{col 30}{space 2} .8995193{col 41}{space 1}   16.77{col 50}{space 3}0.000{col 58}{space 4} 13.32518{col 71}{space 3} 16.85279
{txt}{space 11}2007  {c |}{col 18}{res}{space 2} 16.19938{col 30}{space 2} .9391898{col 41}{space 1}   17.25{col 50}{space 3}0.000{col 58}{space 4} 14.35778{col 71}{space 3} 18.04098
{txt}{space 11}2008  {c |}{col 18}{res}{space 2} 16.49566{col 30}{space 2} .9844199{col 41}{space 1}   16.76{col 50}{space 3}0.000{col 58}{space 4} 14.56537{col 71}{space 3} 18.42594
{txt}{space 11}2009  {c |}{col 18}{res}{space 2} 16.64953{col 30}{space 2} 4.452089{col 41}{space 1}    3.74{col 50}{space 3}0.000{col 58}{space 4} 7.919717{col 71}{space 3} 25.37934
{txt}{space 11}2011  {c |}{col 18}{res}{space 2} 17.65102{col 30}{space 2} 3.275518{col 41}{space 1}    5.39{col 50}{space 3}0.000{col 58}{space 4} 11.22827{col 71}{space 3} 24.07377
{txt}{space 11}2012  {c |}{col 18}{res}{space 2} 22.80837{col 30}{space 2} 2.713051{col 41}{space 1}    8.41{col 50}{space 3}0.000{col 58}{space 4} 17.48852{col 71}{space 3} 28.12822
{txt}{space 11}2014  {c |}{col 18}{res}{space 2} 11.46151{col 30}{space 2} 3.266969{col 41}{space 1}    3.51{col 50}{space 3}0.000{col 58}{space 4} 5.055525{col 71}{space 3}  17.8675
{txt}{space 11}2019  {c |}{col 18}{res}{space 2} 16.00098{col 30}{space 2} 4.540372{col 41}{space 1}    3.52{col 50}{space 3}0.000{col 58}{space 4} 7.098062{col 71}{space 3}  24.9039
{txt}{space 11}2020  {c |}{col 18}{res}{space 2} 25.42829{col 30}{space 2} 4.577732{col 41}{space 1}    5.55{col 50}{space 3}0.000{col 58}{space 4} 16.45211{col 71}{space 3} 34.40446
{txt}{space 16} {c |}
{space 11}_cons {c |}{col 18}{res}{space 2} -24.4011{col 30}{space 2} 7.715094{col 41}{space 1}   -3.16{col 50}{space 3}0.002{col 58}{space 4}-39.52913{col 71}{space 3}-9.273079
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
         sigma_u {c |} {res} 20.835796
         {txt}sigma_e {c |} {res} 4.3080948
             {txt}rho {c |} {res} .95900135{txt}   (fraction of variance due to u_i)
{hline 17}{c BT}{hline 64}
F test that all u_i=0: F({res}143{txt}, {res}2725{txt}) = {res}196.95{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. xttest3

{txt}Modified Wald test for groupwise heteroskedasticity
in fixed effect regression model

{res}H0: sigma(i)^2 = sigma^2 for all i

{txt}chi2 (144)  =  {res}14720.88
{txt}Prob>chi2 =    {res}  0.0000

{txt}
{com}. 
. xtreg bti_ic2 hasswf2_1 totalrentspcln_1 rgdppcln_1 p_polity2_1 bci_bci_1 dr_sg_1  i.year , fe  
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       421
{txt}Group variable: {res}cowcode{txt}{col 49}Number of groups{col 67}={col 69}{res}       109

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.1944{col 63}{txt}min{col 67}={col 69}{res}         1
{txt}     between = {res}0.1320{col 63}{txt}avg{col 67}={col 69}{res}       3.9
{txt}     overall = {res}0.1218{col 63}{txt}max{col 67}={col 69}{res}         5

{txt}{col 49}F({res}15{txt},{res}297{txt}){col 67}={col 70}{res}     4.78
{txt}corr(u_i, Xb){col 16}= {res}-0.4760{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}         bti_ic2{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}hasswf2_1 {c |}{col 18}{res}{space 2}-.4355046{col 30}{space 2} .2549808{col 41}{space 1}   -1.71{col 50}{space 3}0.089{col 58}{space 4}-.9373026{col 71}{space 3} .0662935
{txt}totalrentspcln_1 {c |}{col 18}{res}{space 2}-.0299591{col 30}{space 2} .0985829{col 41}{space 1}   -0.30{col 50}{space 3}0.761{col 58}{space 4}-.2239687{col 71}{space 3} .1640505
{txt}{space 6}rgdppcln_1 {c |}{col 18}{res}{space 2}-.4229643{col 30}{space 2} .3969824{col 41}{space 1}   -1.07{col 50}{space 3}0.288{col 58}{space 4}-1.204219{col 71}{space 3} .3582906
{txt}{space 5}p_polity2_1 {c |}{col 18}{res}{space 2} .0006829{col 30}{space 2} .0173627{col 41}{space 1}    0.04{col 50}{space 3}0.969{col 58}{space 4}-.0334866{col 71}{space 3} .0348524
{txt}{space 7}bci_bci_1 {c |}{col 18}{res}{space 2}-.1495198{col 30}{space 2} .0594361{col 41}{space 1}   -2.52{col 50}{space 3}0.012{col 58}{space 4} -.266489{col 71}{space 3}-.0325505
{txt}{space 9}dr_sg_1 {c |}{col 18}{res}{space 2}-.0057182{col 30}{space 2}  .019788{col 41}{space 1}   -0.29{col 50}{space 3}0.773{col 58}{space 4}-.0446607{col 71}{space 3} .0332243
{txt}{space 16} {c |}
{space 12}year {c |}
{space 11}2006  {c |}{col 18}{res}{space 2}  .032228{col 30}{space 2}  .066835{col 41}{space 1}    0.48{col 50}{space 3}0.630{col 58}{space 4}-.0993022{col 71}{space 3} .1637582
{txt}{space 11}2007  {c |}{col 18}{res}{space 2} .0791434{col 30}{space 2} .0952374{col 41}{space 1}    0.83{col 50}{space 3}0.407{col 58}{space 4}-.1082822{col 71}{space 3} .2665691
{txt}{space 11}2008  {c |}{col 18}{res}{space 2} .0171016{col 30}{space 2} .1326514{col 41}{space 1}    0.13{col 50}{space 3}0.898{col 58}{space 4}-.2439542{col 71}{space 3} .2781574
{txt}{space 11}2009  {c |}{col 18}{res}{space 2}-1.312158{col 30}{space 2} .5975446{col 41}{space 1}   -2.20{col 50}{space 3}0.029{col 58}{space 4}-2.488116{col 71}{space 3}-.1362002
{txt}{space 11}2011  {c |}{col 18}{res}{space 2}-.7599599{col 30}{space 2} .3525827{col 41}{space 1}   -2.16{col 50}{space 3}0.032{col 58}{space 4}-1.453837{col 71}{space 3} -.066083
{txt}{space 11}2012  {c |}{col 18}{res}{space 2} .2879628{col 30}{space 2} .4421456{col 41}{space 1}    0.65{col 50}{space 3}0.515{col 58}{space 4}-.5821724{col 71}{space 3} 1.158098
{txt}{space 11}2014  {c |}{col 18}{res}{space 2}-1.614329{col 30}{space 2} .4697393{col 41}{space 1}   -3.44{col 50}{space 3}0.001{col 58}{space 4}-2.538769{col 71}{space 3}-.6898902
{txt}{space 11}2019  {c |}{col 18}{res}{space 2}-2.639465{col 30}{space 2} .5105032{col 41}{space 1}   -5.17{col 50}{space 3}0.000{col 58}{space 4}-3.644127{col 71}{space 3}-1.634803
{txt}{space 11}2020  {c |}{col 18}{res}{space 2} 1.147543{col 30}{space 2} .5443537{col 41}{space 1}    2.11{col 50}{space 3}0.036{col 58}{space 4} .0762644{col 71}{space 3} 2.218823
{txt}{space 16} {c |}
{space 11}_cons {c |}{col 18}{res}{space 2} 19.43517{col 30}{space 2} 5.354673{col 41}{space 1}    3.63{col 50}{space 3}0.000{col 58}{space 4} 8.897262{col 71}{space 3} 29.97308
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
         sigma_u {c |} {res} 1.9431899
         {txt}sigma_e {c |} {res}  .4165904
             {txt}rho {c |} {res} .95605873{txt}   (fraction of variance due to u_i)
{hline 17}{c BT}{hline 64}
F test that all u_i=0: F({res}108{txt}, {res}297{txt}) = {res}27.45{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. xttest3

{txt}Modified Wald test for groupwise heteroskedasticity
in fixed effect regression model

{res}H0: sigma(i)^2 = sigma^2 for all i

{txt}chi2 (109)  =  {res} 5.7e+30
{txt}Prob>chi2 =    {res}  0.0000

{txt}
{com}. 
. *** We reject the null and conclude heteroskedasticity. 
. 
. *** Now Wooldridge test for AUTOCORRELATION in panel data ***
. 
. xtserial dr_eg hasswf2_1 totalrentspcln_1 rgdppcln_1 p_polity2_1 bci_bci_1 dr_sg_1

{txt}Wooldridge test for autocorrelation in panel data
H0: no first-order autocorrelation
{col 5}F(  1,     141) = {res}   562.561
{txt}{col 12}Prob > F = {res}     0.0000
{txt}
{com}. 
. xtserial dr_pg hasswf2_1 totalrentspcln_1 rgdppcln_1 p_polity2_1 bci_bci_1 dr_sg_1

{txt}Wooldridge test for autocorrelation in panel data
H0: no first-order autocorrelation
{col 5}F(  1,     143) = {res}   389.926
{txt}{col 12}Prob > F = {res}     0.0000
{txt}
{com}. 
. xtserial bti_ic2 hasswf2_1 totalrentspcln_1 rgdppcln_1 p_polity2_1 bci_bci_1 dr_sg_1

{txt}Wooldridge test for autocorrelation in panel data
H0: no first-order autocorrelation
{col 5}F(  1,      98) = {res}   417.769
{txt}{col 12}Prob > F = {res}     0.0000
{txt}
{com}. 
. ** We reject the null and conclude serial correlation.
. 
. 
. *** Are the PANELS CORRELATED? Is cross-sectional dependence a problem, as it can lead to bias in tests results? 
. // Use Pesaran CD tests using xtcd2. Testing for weak cross-sectional dependence (CSD)
. //   H0: weak cross-section dependence
. //   H1: strong cross-section dependence
. // References
. //  CD:        Pesaran (2015, 2021)
. //  CDw:       Juodis, Reese (2021)
. 
. 
. xtreg dr_eg hasswf2_1 totalrentspcln_1 rgdppcln_1 p_polity2_1 bci_bci_1 dr_sg_1 i.year , fe    
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}     2,875
{txt}Group variable: {res}cowcode{txt}{col 49}Number of groups{col 67}={col 69}{res}       142

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.6435{col 63}{txt}min{col 67}={col 69}{res}         5
{txt}     between = {res}0.6819{col 63}{txt}avg{col 67}={col 69}{res}      20.2
{txt}     overall = {res}0.6872{col 63}{txt}max{col 67}={col 69}{res}        25

{txt}{col 49}F({res}35{txt},{res}2698{txt}){col 67}={col 70}{res}   139.16
{txt}corr(u_i, Xb){col 16}= {res}-0.5274{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}           dr_eg{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}hasswf2_1 {c |}{col 18}{res}{space 2}-1.468537{col 30}{space 2} .4305521{col 41}{space 1}   -3.41{col 50}{space 3}0.001{col 58}{space 4}-2.312782{col 71}{space 3}-.6242916
{txt}totalrentspcln_1 {c |}{col 18}{res}{space 2}-.2702988{col 30}{space 2} .1825401{col 41}{space 1}   -1.48{col 50}{space 3}0.139{col 58}{space 4}-.6282314{col 71}{space 3} .0876338
{txt}{space 6}rgdppcln_1 {c |}{col 18}{res}{space 2} 2.382291{col 30}{space 2} .5802556{col 41}{space 1}    4.11{col 50}{space 3}0.000{col 58}{space 4}   1.2445{col 71}{space 3} 3.520081
{txt}{space 5}p_polity2_1 {c |}{col 18}{res}{space 2}-.0042248{col 30}{space 2} .0279192{col 41}{space 1}   -0.15{col 50}{space 3}0.880{col 58}{space 4}  -.05897{col 71}{space 3} .0505204
{txt}{space 7}bci_bci_1 {c |}{col 18}{res}{space 2}-.3246638{col 30}{space 2} .0771361{col 41}{space 1}   -4.21{col 50}{space 3}0.000{col 58}{space 4}-.4759156{col 71}{space 3}-.1734119
{txt}{space 9}dr_sg_1 {c |}{col 18}{res}{space 2} .5833858{col 30}{space 2} .0325265{col 41}{space 1}   17.94{col 50}{space 3}0.000{col 58}{space 4} .5196064{col 71}{space 3} .6471651
{txt}{space 16} {c |}
{space 12}year {c |}
{space 11}1986  {c |}{col 18}{res}{space 2}  -.77147{col 30}{space 2} .6043848{col 41}{space 1}   -1.28{col 50}{space 3}0.202{col 58}{space 4}-1.956574{col 71}{space 3}  .413634
{txt}{space 11}1987  {c |}{col 18}{res}{space 2}-.7923177{col 30}{space 2} .6033009{col 41}{space 1}   -1.31{col 50}{space 3}0.189{col 58}{space 4}-1.975296{col 71}{space 3} .3906611
{txt}{space 11}1988  {c |}{col 18}{res}{space 2}-.6345303{col 30}{space 2} .6022742{col 41}{space 1}   -1.05{col 50}{space 3}0.292{col 58}{space 4}-1.815496{col 71}{space 3} .5464353
{txt}{space 11}1989  {c |}{col 18}{res}{space 2}-.2380037{col 30}{space 2} .6009515{col 41}{space 1}   -0.40{col 50}{space 3}0.692{col 58}{space 4}-1.416376{col 71}{space 3} .9403681
{txt}{space 11}1990  {c |}{col 18}{res}{space 2}-.2504592{col 30}{space 2} .6058904{col 41}{space 1}   -0.41{col 50}{space 3}0.679{col 58}{space 4}-1.438515{col 71}{space 3} .9375971
{txt}{space 11}1991  {c |}{col 18}{res}{space 2}-.6000622{col 30}{space 2} .6093452{col 41}{space 1}   -0.98{col 50}{space 3}0.325{col 58}{space 4}-1.794893{col 71}{space 3} .5947684
{txt}{space 11}1992  {c |}{col 18}{res}{space 2} .0136676{col 30}{space 2} .6186664{col 41}{space 1}    0.02{col 50}{space 3}0.982{col 58}{space 4}-1.199441{col 71}{space 3} 1.226776
{txt}{space 11}1993  {c |}{col 18}{res}{space 2} .9526027{col 30}{space 2} .6261873{col 41}{space 1}    1.52{col 50}{space 3}0.128{col 58}{space 4}-.2752527{col 71}{space 3} 2.180458
{txt}{space 11}1994  {c |}{col 18}{res}{space 2} 2.015576{col 30}{space 2} .6315183{col 41}{space 1}    3.19{col 50}{space 3}0.001{col 58}{space 4} .7772672{col 71}{space 3} 3.253885
{txt}{space 11}1995  {c |}{col 18}{res}{space 2} 2.387973{col 30}{space 2}  .640277{col 41}{space 1}    3.73{col 50}{space 3}0.000{col 58}{space 4}  1.13249{col 71}{space 3} 3.643456
{txt}{space 11}1996  {c |}{col 18}{res}{space 2} 1.790189{col 30}{space 2} .6477561{col 41}{space 1}    2.76{col 50}{space 3}0.006{col 58}{space 4} .5200409{col 71}{space 3} 3.060338
{txt}{space 11}1997  {c |}{col 18}{res}{space 2} 2.653209{col 30}{space 2} .6387693{col 41}{space 1}    4.15{col 50}{space 3}0.000{col 58}{space 4} 1.400682{col 71}{space 3} 3.905736
{txt}{space 11}1998  {c |}{col 18}{res}{space 2}  3.63663{col 30}{space 2} .6548745{col 41}{space 1}    5.55{col 50}{space 3}0.000{col 58}{space 4} 2.352524{col 71}{space 3} 4.920737
{txt}{space 11}1999  {c |}{col 18}{res}{space 2} 3.744424{col 30}{space 2} .6812369{col 41}{space 1}    5.50{col 50}{space 3}0.000{col 58}{space 4} 2.408625{col 71}{space 3} 5.080223
{txt}{space 11}2000  {c |}{col 18}{res}{space 2} 4.577973{col 30}{space 2} .7012155{col 41}{space 1}    6.53{col 50}{space 3}0.000{col 58}{space 4} 3.202999{col 71}{space 3} 5.952947
{txt}{space 11}2001  {c |}{col 18}{res}{space 2} 4.360307{col 30}{space 2} .7127124{col 41}{space 1}    6.12{col 50}{space 3}0.000{col 58}{space 4} 2.962789{col 71}{space 3} 5.757824
{txt}{space 11}2002  {c |}{col 18}{res}{space 2} 2.852795{col 30}{space 2}  .738861{col 41}{space 1}    3.86{col 50}{space 3}0.000{col 58}{space 4} 1.404004{col 71}{space 3} 4.301586
{txt}{space 11}2003  {c |}{col 18}{res}{space 2} 2.942758{col 30}{space 2} .7579713{col 41}{space 1}    3.88{col 50}{space 3}0.000{col 58}{space 4} 1.456495{col 71}{space 3} 4.429021
{txt}{space 11}2004  {c |}{col 18}{res}{space 2} 3.159814{col 30}{space 2} .7788742{col 41}{space 1}    4.06{col 50}{space 3}0.000{col 58}{space 4} 1.632563{col 71}{space 3} 4.687065
{txt}{space 11}2005  {c |}{col 18}{res}{space 2} 3.092596{col 30}{space 2} .8067658{col 41}{space 1}    3.83{col 50}{space 3}0.000{col 58}{space 4} 1.510654{col 71}{space 3} 4.674537
{txt}{space 11}2006  {c |}{col 18}{res}{space 2} 2.966787{col 30}{space 2}  .830536{col 41}{space 1}    3.57{col 50}{space 3}0.000{col 58}{space 4} 1.338235{col 71}{space 3} 4.595338
{txt}{space 11}2007  {c |}{col 18}{res}{space 2} 2.955515{col 30}{space 2} .8670884{col 41}{space 1}    3.41{col 50}{space 3}0.001{col 58}{space 4}  1.25529{col 71}{space 3}  4.65574
{txt}{space 11}2008  {c |}{col 18}{res}{space 2} .9496519{col 30}{space 2} .9087727{col 41}{space 1}    1.04{col 50}{space 3}0.296{col 58}{space 4}-.8323092{col 71}{space 3} 2.731613
{txt}{space 11}2009  {c |}{col 18}{res}{space 2}-1.224386{col 30}{space 2} 4.107175{col 41}{space 1}   -0.30{col 50}{space 3}0.766{col 58}{space 4}-9.277913{col 71}{space 3} 6.829142
{txt}{space 11}2011  {c |}{col 18}{res}{space 2} 7.048699{col 30}{space 2} 3.021777{col 41}{space 1}    2.33{col 50}{space 3}0.020{col 58}{space 4} 1.123466{col 71}{space 3} 12.97393
{txt}{space 11}2012  {c |}{col 18}{res}{space 2} 1.524094{col 30}{space 2} 2.502992{col 41}{space 1}    0.61{col 50}{space 3}0.543{col 58}{space 4}-3.383882{col 71}{space 3}  6.43207
{txt}{space 11}2014  {c |}{col 18}{res}{space 2} 4.296126{col 30}{space 2} 3.013944{col 41}{space 1}    1.43{col 50}{space 3}0.154{col 58}{space 4}-1.613747{col 71}{space 3}   10.206
{txt}{space 11}2019  {c |}{col 18}{res}{space 2} -.121069{col 30}{space 2}  4.18871{col 41}{space 1}   -0.03{col 50}{space 3}0.977{col 58}{space 4}-8.334475{col 71}{space 3} 8.092337
{txt}{space 11}2020  {c |}{col 18}{res}{space 2} 9.736633{col 30}{space 2} 4.223176{col 41}{space 1}    2.31{col 50}{space 3}0.021{col 58}{space 4} 1.455646{col 71}{space 3} 18.01762
{txt}{space 16} {c |}
{space 11}_cons {c |}{col 18}{res}{space 2} 21.37824{col 30}{space 2} 7.148509{col 41}{space 1}    2.99{col 50}{space 3}0.003{col 58}{space 4} 7.361129{col 71}{space 3} 35.39534
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
         sigma_u {c |} {res} 10.079853
         {txt}sigma_e {c |} {res} 3.9742857
             {txt}rho {c |} {res} .86545857{txt}   (fraction of variance due to u_i)
{hline 17}{c BT}{hline 64}
F test that all u_i=0: F({res}141{txt}, {res}2698{txt}) = {res}78.41{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. xtcd2, pesaran cdw 
Residuals calculated using {it: predict, e} from {it:xtreg}.
{txt}(8,762 missing values generated)
Unbalanced panel detected, test adjusted.
{res}
{txt}Testing for weak cross-sectional dependence (CSD)
{col 4}H0: weak cross-section dependence
{col 4}H1: strong cross-section dependence
{hline 15}{c TT}{hline 28}
{col 16}{c |}  {col 20} CD  {col 34} CDw
{hline 15}{c +}{hline 28}
residuals{col 16}{c |}{res} {col 16}   -2.39 {col 30}    1.68
{txt}{col 16}{c |}{res} {col 16} (0.017) {col 30} (0.093)
{txt}{hline 15}{c BT}{hline 28}
p-values in parenthesis.
References
  CD: {col 13} Pesaran ({help xtcd2##Pesaran2015:2015}, {help xtcd2##Pesaran2021:2021})
  CDw: {col 13} Juodis, Reese ({help xtcd2##JR2021:2021})

{com}. 
. ***                     CD              CDw
. ***dr_eg        -2.39   -1.69
. ***                     -0.017  -0.092
. 
. xtreg dr_pg hasswf2_1 totalrentspcln_1 rgdppcln_1 p_polity2_1 bci_bci_1 dr_sg_1 i.year , fe    
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}     2,904
{txt}Group variable: {res}cowcode{txt}{col 49}Number of groups{col 67}={col 69}{res}       144

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.6950{col 63}{txt}min{col 67}={col 69}{res}         5
{txt}     between = {res}0.0114{col 63}{txt}avg{col 67}={col 69}{res}      20.2
{txt}     overall = {res}0.0090{col 63}{txt}max{col 67}={col 69}{res}        25

{txt}{col 49}F({res}35{txt},{res}2725{txt}){col 67}={col 70}{res}   177.44
{txt}corr(u_i, Xb){col 16}= {res}-0.4070{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}           dr_pg{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}hasswf2_1 {c |}{col 18}{res}{space 2} .2588651{col 30}{space 2} .4661342{col 41}{space 1}    0.56{col 50}{space 3}0.579{col 58}{space 4} -.655147{col 71}{space 3} 1.172877
{txt}totalrentspcln_1 {c |}{col 18}{res}{space 2}-.8652045{col 30}{space 2} .1960015{col 41}{space 1}   -4.41{col 50}{space 3}0.000{col 58}{space 4}-1.249531{col 71}{space 3} -.480878
{txt}{space 6}rgdppcln_1 {c |}{col 18}{res}{space 2} 4.513633{col 30}{space 2} .6242147{col 41}{space 1}    7.23{col 50}{space 3}0.000{col 58}{space 4} 3.289651{col 71}{space 3} 5.737615
{txt}{space 5}p_polity2_1 {c |}{col 18}{res}{space 2} .0490284{col 30}{space 2} .0302298{col 41}{space 1}    1.62{col 50}{space 3}0.105{col 58}{space 4}-.0102472{col 71}{space 3}  .108304
{txt}{space 7}bci_bci_1 {c |}{col 18}{res}{space 2} .7386154{col 30}{space 2} .0834768{col 41}{space 1}    8.85{col 50}{space 3}0.000{col 58}{space 4} .5749312{col 71}{space 3} .9022995
{txt}{space 9}dr_sg_1 {c |}{col 18}{res}{space 2} .2991182{col 30}{space 2} .0352453{col 41}{space 1}    8.49{col 50}{space 3}0.000{col 58}{space 4}  .230008{col 71}{space 3} .3682284
{txt}{space 16} {c |}
{space 12}year {c |}
{space 11}1986  {c |}{col 18}{res}{space 2} .4166695{col 30}{space 2} .6522264{col 41}{space 1}    0.64{col 50}{space 3}0.523{col 58}{space 4}-.8622388{col 71}{space 3} 1.695578
{txt}{space 11}1987  {c |}{col 18}{res}{space 2}-.9116069{col 30}{space 2} .6513824{col 41}{space 1}   -1.40{col 50}{space 3}0.162{col 58}{space 4} -2.18886{col 71}{space 3} .3656464
{txt}{space 11}1988  {c |}{col 18}{res}{space 2}-1.437889{col 30}{space 2} .6502734{col 41}{space 1}   -2.21{col 50}{space 3}0.027{col 58}{space 4}-2.712968{col 71}{space 3}-.1628101
{txt}{space 11}1989  {c |}{col 18}{res}{space 2} -1.42681{col 30}{space 2} .6488272{col 41}{space 1}   -2.20{col 50}{space 3}0.028{col 58}{space 4}-2.699053{col 71}{space 3}-.1545675
{txt}{space 11}1990  {c |}{col 18}{res}{space 2}-.9865856{col 30}{space 2} .6541335{col 41}{space 1}   -1.51{col 50}{space 3}0.132{col 58}{space 4}-2.269233{col 71}{space 3} .2960621
{txt}{space 11}1991  {c |}{col 18}{res}{space 2} 2.573748{col 30}{space 2}  .657848{col 41}{space 1}    3.91{col 50}{space 3}0.000{col 58}{space 4} 1.283816{col 71}{space 3} 3.863679
{txt}{space 11}1992  {c |}{col 18}{res}{space 2} 4.155095{col 30}{space 2} .6693145{col 41}{space 1}    6.21{col 50}{space 3}0.000{col 58}{space 4}  2.84268{col 71}{space 3}  5.46751
{txt}{space 11}1993  {c |}{col 18}{res}{space 2} 6.232496{col 30}{space 2} .6774979{col 41}{space 1}    9.20{col 50}{space 3}0.000{col 58}{space 4} 4.904034{col 71}{space 3} 7.560957
{txt}{space 11}1994  {c |}{col 18}{res}{space 2}  7.54928{col 30}{space 2} .6833869{col 41}{space 1}   11.05{col 50}{space 3}0.000{col 58}{space 4} 6.209271{col 71}{space 3} 8.889289
{txt}{space 11}1995  {c |}{col 18}{res}{space 2} 8.580497{col 30}{space 2} .6928615{col 41}{space 1}   12.38{col 50}{space 3}0.000{col 58}{space 4}  7.22191{col 71}{space 3} 9.939084
{txt}{space 11}1996  {c |}{col 18}{res}{space 2} 8.581609{col 30}{space 2} .7009788{col 41}{space 1}   12.24{col 50}{space 3}0.000{col 58}{space 4} 7.207106{col 71}{space 3} 9.956113
{txt}{space 11}1997  {c |}{col 18}{res}{space 2} 8.574971{col 30}{space 2} .6916284{col 41}{space 1}   12.40{col 50}{space 3}0.000{col 58}{space 4} 7.218802{col 71}{space 3}  9.93114
{txt}{space 11}1998  {c |}{col 18}{res}{space 2} 8.977329{col 30}{space 2} .7090702{col 41}{space 1}   12.66{col 50}{space 3}0.000{col 58}{space 4}  7.58696{col 71}{space 3}  10.3677
{txt}{space 11}1999  {c |}{col 18}{res}{space 2} 10.04187{col 30}{space 2} .7375773{col 41}{space 1}   13.61{col 50}{space 3}0.000{col 58}{space 4} 8.595607{col 71}{space 3} 11.48814
{txt}{space 11}2000  {c |}{col 18}{res}{space 2} 10.78729{col 30}{space 2} .7591272{col 41}{space 1}   14.21{col 50}{space 3}0.000{col 58}{space 4} 9.298762{col 71}{space 3} 12.27581
{txt}{space 11}2001  {c |}{col 18}{res}{space 2} 11.78413{col 30}{space 2} .7715554{col 41}{space 1}   15.27{col 50}{space 3}0.000{col 58}{space 4} 10.27123{col 71}{space 3} 13.29702
{txt}{space 11}2002  {c |}{col 18}{res}{space 2} 11.01071{col 30}{space 2} .8000193{col 41}{space 1}   13.76{col 50}{space 3}0.000{col 58}{space 4}    9.442{col 71}{space 3} 12.57941
{txt}{space 11}2003  {c |}{col 18}{res}{space 2} 12.22685{col 30}{space 2} .8207312{col 41}{space 1}   14.90{col 50}{space 3}0.000{col 58}{space 4} 10.61753{col 71}{space 3} 13.83617
{txt}{space 11}2004  {c |}{col 18}{res}{space 2} 13.36533{col 30}{space 2} .8434859{col 41}{space 1}   15.85{col 50}{space 3}0.000{col 58}{space 4} 11.71139{col 71}{space 3} 15.01927
{txt}{space 11}2005  {c |}{col 18}{res}{space 2}  13.7263{col 30}{space 2}  .873827{col 41}{space 1}   15.71{col 50}{space 3}0.000{col 58}{space 4} 12.01287{col 71}{space 3} 15.43973
{txt}{space 11}2006  {c |}{col 18}{res}{space 2} 15.08898{col 30}{space 2} .8995193{col 41}{space 1}   16.77{col 50}{space 3}0.000{col 58}{space 4} 13.32518{col 71}{space 3} 16.85279
{txt}{space 11}2007  {c |}{col 18}{res}{space 2} 16.19938{col 30}{space 2} .9391898{col 41}{space 1}   17.25{col 50}{space 3}0.000{col 58}{space 4} 14.35778{col 71}{space 3} 18.04098
{txt}{space 11}2008  {c |}{col 18}{res}{space 2} 16.49566{col 30}{space 2} .9844199{col 41}{space 1}   16.76{col 50}{space 3}0.000{col 58}{space 4} 14.56537{col 71}{space 3} 18.42594
{txt}{space 11}2009  {c |}{col 18}{res}{space 2} 16.64953{col 30}{space 2} 4.452089{col 41}{space 1}    3.74{col 50}{space 3}0.000{col 58}{space 4} 7.919717{col 71}{space 3} 25.37934
{txt}{space 11}2011  {c |}{col 18}{res}{space 2} 17.65102{col 30}{space 2} 3.275518{col 41}{space 1}    5.39{col 50}{space 3}0.000{col 58}{space 4} 11.22827{col 71}{space 3} 24.07377
{txt}{space 11}2012  {c |}{col 18}{res}{space 2} 22.80837{col 30}{space 2} 2.713051{col 41}{space 1}    8.41{col 50}{space 3}0.000{col 58}{space 4} 17.48852{col 71}{space 3} 28.12822
{txt}{space 11}2014  {c |}{col 18}{res}{space 2} 11.46151{col 30}{space 2} 3.266969{col 41}{space 1}    3.51{col 50}{space 3}0.000{col 58}{space 4} 5.055525{col 71}{space 3}  17.8675
{txt}{space 11}2019  {c |}{col 18}{res}{space 2} 16.00098{col 30}{space 2} 4.540372{col 41}{space 1}    3.52{col 50}{space 3}0.000{col 58}{space 4} 7.098062{col 71}{space 3}  24.9039
{txt}{space 11}2020  {c |}{col 18}{res}{space 2} 25.42829{col 30}{space 2} 4.577732{col 41}{space 1}    5.55{col 50}{space 3}0.000{col 58}{space 4} 16.45211{col 71}{space 3} 34.40446
{txt}{space 16} {c |}
{space 11}_cons {c |}{col 18}{res}{space 2} -24.4011{col 30}{space 2} 7.715094{col 41}{space 1}   -3.16{col 50}{space 3}0.002{col 58}{space 4}-39.52913{col 71}{space 3}-9.273079
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
         sigma_u {c |} {res} 20.835796
         {txt}sigma_e {c |} {res} 4.3080948
             {txt}rho {c |} {res} .95900135{txt}   (fraction of variance due to u_i)
{hline 17}{c BT}{hline 64}
F test that all u_i=0: F({res}143{txt}, {res}2725{txt}) = {res}196.95{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. xtcd2, pesaran cdw
Residuals calculated using {it: predict, e} from {it:xtreg}.
{txt}(8,733 missing values generated)
Unbalanced panel detected, test adjusted.
{res}
{txt}Testing for weak cross-sectional dependence (CSD)
{col 4}H0: weak cross-section dependence
{col 4}H1: strong cross-section dependence
{hline 15}{c TT}{hline 28}
{col 16}{c |}  {col 20} CD  {col 34} CDw
{hline 15}{c +}{hline 28}
residuals{col 16}{c |}{res} {col 16}    0.44 {col 30}    0.12
{txt}{col 16}{c |}{res} {col 16} (0.662) {col 30} (0.907)
{txt}{hline 15}{c BT}{hline 28}
p-values in parenthesis.
References
  CD: {col 13} Pesaran ({help xtcd2##Pesaran2015:2015}, {help xtcd2##Pesaran2021:2021})
  CDw: {col 13} Juodis, Reese ({help xtcd2##JR2021:2021})

{com}. 
. ***                     CD              CDw
. ***dr_eg        0.44    -1.93
. ***                     -0.662  -0.053
. 
. xtreg bti_ic2 hasswf2_1 totalrentspcln_1 rgdppcln_1 p_polity2_1 bci_bci_1 dr_sg_1  i.year , fe    
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       421
{txt}Group variable: {res}cowcode{txt}{col 49}Number of groups{col 67}={col 69}{res}       109

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.1944{col 63}{txt}min{col 67}={col 69}{res}         1
{txt}     between = {res}0.1320{col 63}{txt}avg{col 67}={col 69}{res}       3.9
{txt}     overall = {res}0.1218{col 63}{txt}max{col 67}={col 69}{res}         5

{txt}{col 49}F({res}15{txt},{res}297{txt}){col 67}={col 70}{res}     4.78
{txt}corr(u_i, Xb){col 16}= {res}-0.4760{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}         bti_ic2{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}hasswf2_1 {c |}{col 18}{res}{space 2}-.4355046{col 30}{space 2} .2549808{col 41}{space 1}   -1.71{col 50}{space 3}0.089{col 58}{space 4}-.9373026{col 71}{space 3} .0662935
{txt}totalrentspcln_1 {c |}{col 18}{res}{space 2}-.0299591{col 30}{space 2} .0985829{col 41}{space 1}   -0.30{col 50}{space 3}0.761{col 58}{space 4}-.2239687{col 71}{space 3} .1640505
{txt}{space 6}rgdppcln_1 {c |}{col 18}{res}{space 2}-.4229643{col 30}{space 2} .3969824{col 41}{space 1}   -1.07{col 50}{space 3}0.288{col 58}{space 4}-1.204219{col 71}{space 3} .3582906
{txt}{space 5}p_polity2_1 {c |}{col 18}{res}{space 2} .0006829{col 30}{space 2} .0173627{col 41}{space 1}    0.04{col 50}{space 3}0.969{col 58}{space 4}-.0334866{col 71}{space 3} .0348524
{txt}{space 7}bci_bci_1 {c |}{col 18}{res}{space 2}-.1495198{col 30}{space 2} .0594361{col 41}{space 1}   -2.52{col 50}{space 3}0.012{col 58}{space 4} -.266489{col 71}{space 3}-.0325505
{txt}{space 9}dr_sg_1 {c |}{col 18}{res}{space 2}-.0057182{col 30}{space 2}  .019788{col 41}{space 1}   -0.29{col 50}{space 3}0.773{col 58}{space 4}-.0446607{col 71}{space 3} .0332243
{txt}{space 16} {c |}
{space 12}year {c |}
{space 11}2006  {c |}{col 18}{res}{space 2}  .032228{col 30}{space 2}  .066835{col 41}{space 1}    0.48{col 50}{space 3}0.630{col 58}{space 4}-.0993022{col 71}{space 3} .1637582
{txt}{space 11}2007  {c |}{col 18}{res}{space 2} .0791434{col 30}{space 2} .0952374{col 41}{space 1}    0.83{col 50}{space 3}0.407{col 58}{space 4}-.1082822{col 71}{space 3} .2665691
{txt}{space 11}2008  {c |}{col 18}{res}{space 2} .0171016{col 30}{space 2} .1326514{col 41}{space 1}    0.13{col 50}{space 3}0.898{col 58}{space 4}-.2439542{col 71}{space 3} .2781574
{txt}{space 11}2009  {c |}{col 18}{res}{space 2}-1.312158{col 30}{space 2} .5975446{col 41}{space 1}   -2.20{col 50}{space 3}0.029{col 58}{space 4}-2.488116{col 71}{space 3}-.1362002
{txt}{space 11}2011  {c |}{col 18}{res}{space 2}-.7599599{col 30}{space 2} .3525827{col 41}{space 1}   -2.16{col 50}{space 3}0.032{col 58}{space 4}-1.453837{col 71}{space 3} -.066083
{txt}{space 11}2012  {c |}{col 18}{res}{space 2} .2879628{col 30}{space 2} .4421456{col 41}{space 1}    0.65{col 50}{space 3}0.515{col 58}{space 4}-.5821724{col 71}{space 3} 1.158098
{txt}{space 11}2014  {c |}{col 18}{res}{space 2}-1.614329{col 30}{space 2} .4697393{col 41}{space 1}   -3.44{col 50}{space 3}0.001{col 58}{space 4}-2.538769{col 71}{space 3}-.6898902
{txt}{space 11}2019  {c |}{col 18}{res}{space 2}-2.639465{col 30}{space 2} .5105032{col 41}{space 1}   -5.17{col 50}{space 3}0.000{col 58}{space 4}-3.644127{col 71}{space 3}-1.634803
{txt}{space 11}2020  {c |}{col 18}{res}{space 2} 1.147543{col 30}{space 2} .5443537{col 41}{space 1}    2.11{col 50}{space 3}0.036{col 58}{space 4} .0762644{col 71}{space 3} 2.218823
{txt}{space 16} {c |}
{space 11}_cons {c |}{col 18}{res}{space 2} 19.43517{col 30}{space 2} 5.354673{col 41}{space 1}    3.63{col 50}{space 3}0.000{col 58}{space 4} 8.897262{col 71}{space 3} 29.97308
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
         sigma_u {c |} {res} 1.9431899
         {txt}sigma_e {c |} {res}  .4165904
             {txt}rho {c |} {res} .95605873{txt}   (fraction of variance due to u_i)
{hline 17}{c BT}{hline 64}
F test that all u_i=0: F({res}108{txt}, {res}297{txt}) = {res}27.45{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. xtcd2, pesaran cdw 
Residuals calculated using {it: predict, e} from {it:xtreg}.
{txt}(11,216 missing values generated)
Unbalanced panel detected, test adjusted.
{res}
{txt}Testing for weak cross-sectional dependence (CSD)
{col 4}H0: weak cross-section dependence
{col 4}H1: strong cross-section dependence
{hline 15}{c TT}{hline 28}
{col 16}{c |}  {col 20} CD  {col 34} CDw
{hline 15}{c +}{hline 28}
residuals{col 16}{c |}{res} {col 16}   -0.45 {col 30}   -1.15
{txt}{col 16}{c |}{res} {col 16} (0.656) {col 30} (0.250)
{txt}{hline 15}{c BT}{hline 28}
p-values in parenthesis.
References
  CD: {col 13} Pesaran ({help xtcd2##Pesaran2015:2015}, {help xtcd2##Pesaran2021:2021})
  CDw: {col 13} Juodis, Reese ({help xtcd2##JR2021:2021})

{com}. 
. ***                     CD              CDw
. ***dr_eg        -0.45   3.03
. ***                     -0.656  -0.002
. 
. 
. *** Several models have p < 0.05, we fail to accept the null hypothesis and conclude that panel are strongly correlated (cross-section dependence).
. *** Following Hoechle, we use Driscoll and Kraay standard errors using the  xtscc command and report these models as main models, while reporting models based on -xtreg, fe vce(cluster) in robustness test.
. *** Driscoll and Kraay (1998) standard errors, as implemented in xtscc, are robust to heteroskedasticity, serial correlation within panels, and a general form of cross-sectional dependence, making them particularly suitable for panels with large N and moderate to large T.
. 
. xtscc dr_eg hasswf2_1 totalrentspcln_1 rgdppcln_1 p_polity2_1 bci_bci_1 dr_sg_1 i.year , fe
{res}
{txt}Regression with Driscoll-Kraay standard errors{col 50}Number of obs     ={res}      2875
{txt}Method: {res}Fixed-effects regression{col 50}{txt}Number of groups  ={res}       142
{txt}Group variable (i): {res}cowcode{col 50}{txt}F({res} 35{txt},{res}    29{txt}){col 68}={res}  6.59e+07
{txt}maximum lag: {res}3{col 50}{txt}Prob > F          =    {res}0.0000
{col 50}{txt}within R-squared  =    {res}0.6435

{txt}{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}  Drisc/Kraay
{col 1}           dr_eg{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}hasswf2_1 {c |}{col 18}{res}{space 2}-1.468537{col 30}{space 2} .4201974{col 41}{space 1}   -3.49{col 50}{space 3}0.002{col 58}{space 4}-2.327937{col 71}{space 3}-.6091368
{txt}totalrentspcln_1 {c |}{col 18}{res}{space 2}-.2702988{col 30}{space 2} .2587667{col 41}{space 1}   -1.04{col 50}{space 3}0.305{col 58}{space 4}-.7995361{col 71}{space 3} .2589385
{txt}{space 6}rgdppcln_1 {c |}{col 18}{res}{space 2} 2.382291{col 30}{space 2} .5970487{col 41}{space 1}    3.99{col 50}{space 3}0.000{col 58}{space 4} 1.161189{col 71}{space 3} 3.603392
{txt}{space 5}p_polity2_1 {c |}{col 18}{res}{space 2}-.0042248{col 30}{space 2} .0230061{col 41}{space 1}   -0.18{col 50}{space 3}0.856{col 58}{space 4}-.0512776{col 71}{space 3}  .042828
{txt}{space 7}bci_bci_1 {c |}{col 18}{res}{space 2}-.3246638{col 30}{space 2} .1052815{col 41}{space 1}   -3.08{col 50}{space 3}0.004{col 58}{space 4}-.5399887{col 71}{space 3}-.1093388
{txt}{space 9}dr_sg_1 {c |}{col 18}{res}{space 2} .5833858{col 30}{space 2} .0495607{col 41}{space 1}   11.77{col 50}{space 3}0.000{col 58}{space 4} .4820227{col 71}{space 3} .6847488
{txt}{space 16} {c |}
{space 12}year {c |}
{space 11}1932  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (empty)
{space 11}1933  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1934  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1935  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1936  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1937  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1938  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1939  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1940  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1941  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1942  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1943  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1944  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1945  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1946  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1947  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1948  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1949  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1950  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1951  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1952  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1953  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1954  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1955  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1956  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1957  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1958  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1959  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1960  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1961  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1962  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1963  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1964  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1965  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1966  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1967  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1968  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1969  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1970  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1971  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1972  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1973  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1974  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1975  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1976  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1977  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1978  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1979  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1980  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1981  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1982  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1983  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1984  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1985  {c |}{col 18}{res}{space 2} 21.37824{col 30}{space 2} 9.681179{col 41}{space 1}    2.21{col 50}{space 3}0.035{col 58}{space 4} 1.578002{col 71}{space 3} 41.17847
{txt}{space 11}1986  {c |}{col 18}{res}{space 2} 20.60677{col 30}{space 2} 9.646672{col 41}{space 1}    2.14{col 50}{space 3}0.041{col 58}{space 4} .8771076{col 71}{space 3} 40.33643
{txt}{space 11}1987  {c |}{col 18}{res}{space 2} 20.58592{col 30}{space 2} 9.594425{col 41}{space 1}    2.15{col 50}{space 3}0.040{col 58}{space 4} .9631157{col 71}{space 3} 40.20872
{txt}{space 11}1988  {c |}{col 18}{res}{space 2} 20.74371{col 30}{space 2} 9.585984{col 41}{space 1}    2.16{col 50}{space 3}0.039{col 58}{space 4} 1.138168{col 71}{space 3} 40.34924
{txt}{space 11}1989  {c |}{col 18}{res}{space 2} 21.14023{col 30}{space 2} 9.587681{col 41}{space 1}    2.20{col 50}{space 3}0.036{col 58}{space 4} 1.531223{col 71}{space 3} 40.74924
{txt}{space 11}1990  {c |}{col 18}{res}{space 2} 21.12778{col 30}{space 2} 9.579035{col 41}{space 1}    2.21{col 50}{space 3}0.035{col 58}{space 4} 1.536451{col 71}{space 3}  40.7191
{txt}{space 11}1991  {c |}{col 18}{res}{space 2} 20.77817{col 30}{space 2} 9.569918{col 41}{space 1}    2.17{col 50}{space 3}0.038{col 58}{space 4} 1.205495{col 71}{space 3} 40.35085
{txt}{space 11}1992  {c |}{col 18}{res}{space 2}  21.3919{col 30}{space 2}  9.50655{col 41}{space 1}    2.25{col 50}{space 3}0.032{col 58}{space 4} 1.948826{col 71}{space 3} 40.83498
{txt}{space 11}1993  {c |}{col 18}{res}{space 2} 22.33084{col 30}{space 2} 9.475423{col 41}{space 1}    2.36{col 50}{space 3}0.025{col 58}{space 4} 2.951423{col 71}{space 3} 41.71026
{txt}{space 11}1994  {c |}{col 18}{res}{space 2} 23.39381{col 30}{space 2} 9.433925{col 41}{space 1}    2.48{col 50}{space 3}0.019{col 58}{space 4}  4.09927{col 71}{space 3} 42.68836
{txt}{space 11}1995  {c |}{col 18}{res}{space 2} 23.76621{col 30}{space 2} 9.411743{col 41}{space 1}    2.53{col 50}{space 3}0.017{col 58}{space 4} 4.517033{col 71}{space 3} 43.01539
{txt}{space 11}1996  {c |}{col 18}{res}{space 2} 23.16843{col 30}{space 2}  9.40683{col 41}{space 1}    2.46{col 50}{space 3}0.020{col 58}{space 4} 3.929298{col 71}{space 3} 42.40755
{txt}{space 11}1997  {c |}{col 18}{res}{space 2} 24.03145{col 30}{space 2} 9.367787{col 41}{space 1}    2.57{col 50}{space 3}0.016{col 58}{space 4}  4.87217{col 71}{space 3} 43.19072
{txt}{space 11}1998  {c |}{col 18}{res}{space 2} 25.01487{col 30}{space 2} 9.333509{col 41}{space 1}    2.68{col 50}{space 3}0.012{col 58}{space 4} 5.925697{col 71}{space 3} 44.10404
{txt}{space 11}1999  {c |}{col 18}{res}{space 2} 25.12266{col 30}{space 2} 9.263672{col 41}{space 1}    2.71{col 50}{space 3}0.011{col 58}{space 4} 6.176324{col 71}{space 3}   44.069
{txt}{space 11}2000  {c |}{col 18}{res}{space 2} 25.95621{col 30}{space 2} 9.235624{col 41}{space 1}    2.81{col 50}{space 3}0.009{col 58}{space 4} 7.067238{col 71}{space 3} 44.84518
{txt}{space 11}2001  {c |}{col 18}{res}{space 2} 25.73854{col 30}{space 2} 9.242042{col 41}{space 1}    2.78{col 50}{space 3}0.009{col 58}{space 4} 6.836444{col 71}{space 3} 44.64064
{txt}{space 11}2002  {c |}{col 18}{res}{space 2} 24.23103{col 30}{space 2} 9.196964{col 41}{space 1}    2.63{col 50}{space 3}0.013{col 58}{space 4} 5.421128{col 71}{space 3} 43.04093
{txt}{space 11}2003  {c |}{col 18}{res}{space 2} 24.32099{col 30}{space 2} 9.174145{col 41}{space 1}    2.65{col 50}{space 3}0.013{col 58}{space 4}  5.55776{col 71}{space 3} 43.08423
{txt}{space 11}2004  {c |}{col 18}{res}{space 2} 24.53805{col 30}{space 2} 9.169178{col 41}{space 1}    2.68{col 50}{space 3}0.012{col 58}{space 4} 5.784976{col 71}{space 3} 43.29113
{txt}{space 11}2005  {c |}{col 18}{res}{space 2} 24.47083{col 30}{space 2} 9.174927{col 41}{space 1}    2.67{col 50}{space 3}0.012{col 58}{space 4}    5.706{col 71}{space 3} 43.23566
{txt}{space 11}2006  {c |}{col 18}{res}{space 2} 24.34502{col 30}{space 2} 9.166441{col 41}{space 1}    2.66{col 50}{space 3}0.013{col 58}{space 4} 5.597546{col 71}{space 3}  43.0925
{txt}{space 11}2007  {c |}{col 18}{res}{space 2} 24.33375{col 30}{space 2} 9.158438{col 41}{space 1}    2.66{col 50}{space 3}0.013{col 58}{space 4} 5.602642{col 71}{space 3} 43.06486
{txt}{space 11}2008  {c |}{col 18}{res}{space 2} 22.32789{col 30}{space 2} 9.161534{col 41}{space 1}    2.44{col 50}{space 3}0.021{col 58}{space 4} 3.590447{col 71}{space 3} 41.06533
{txt}{space 11}2009  {c |}{col 18}{res}{space 2} 20.15385{col 30}{space 2} 9.052029{col 41}{space 1}    2.23{col 50}{space 3}0.034{col 58}{space 4} 1.640374{col 71}{space 3} 38.66733
{txt}{space 11}2010  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2011  {c |}{col 18}{res}{space 2} 28.42694{col 30}{space 2} 9.113748{col 41}{space 1}    3.12{col 50}{space 3}0.004{col 58}{space 4} 9.787228{col 71}{space 3} 47.06664
{txt}{space 11}2012  {c |}{col 18}{res}{space 2} 22.90233{col 30}{space 2} 9.711119{col 41}{space 1}    2.36{col 50}{space 3}0.025{col 58}{space 4} 3.040861{col 71}{space 3}  42.7638
{txt}{space 11}2013  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2014  {c |}{col 18}{res}{space 2} 25.67436{col 30}{space 2} 8.834751{col 41}{space 1}    2.91{col 50}{space 3}0.007{col 58}{space 4} 7.605267{col 71}{space 3} 43.74346
{txt}{space 11}2015  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2016  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2017  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2018  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2019  {c |}{col 18}{res}{space 2} 21.25717{col 30}{space 2} 9.466813{col 41}{space 1}    2.25{col 50}{space 3}0.033{col 58}{space 4}  1.89536{col 71}{space 3} 40.61897
{txt}{space 11}2020  {c |}{col 18}{res}{space 2} 31.11487{col 30}{space 2} 8.574989{col 41}{space 1}    3.63{col 50}{space 3}0.001{col 58}{space 4} 13.57705{col 71}{space 3} 48.65269
{txt}{space 11}2021  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2022  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2023  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 16} {c |}
{space 11}_cons {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}


{com}. 
. *** This works for the full version of the dataset, as it is best suited when T (years) ≥ 10.
. 
. *** We considered using Panel-Corrected Standard Errors (PCSE). 
. // However, since no time periods are common to all panels in our dataset, PSCE cannot estimate disturbance. 
. // Also, it suitable for long T, small/moderate N, less efficient for large N--our dataset is large N=145, and T<N.
. 
. 
. 
. 
. *****************************************************************
. *** TOPIC 1: GLOBALIZATION AND INTERNATIONAL COOPERATION ***
. *****************************************************************
. 
. *** Now, Regression Analysis: SWFs, Globalization, and International Cooperation (Manuscript, Table 2)
. 
. xtscc dr_eg dr_eg_1 hasswf2_1 totalrentspcln_1 rgdppcln_1 p_polity2_1 bci_bci_1 dr_sg_1 i.year, fe
{res}
{txt}Regression with Driscoll-Kraay standard errors{col 50}Number of obs     ={res}      2875
{txt}Method: {res}Fixed-effects regression{col 50}{txt}Number of groups  ={res}       142
{txt}Group variable (i): {res}cowcode{col 50}{txt}F({res} 36{txt},{res}    29{txt}){col 68}={res}4001898.81
{txt}maximum lag: {res}3{col 50}{txt}Prob > F          =    {res}0.0000
{col 50}{txt}within R-squared  =    {res}0.8867

{txt}{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}  Drisc/Kraay
{col 1}           dr_eg{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}dr_eg_1 {c |}{col 18}{res}{space 2} .8264728{col 30}{space 2} .0239198{col 41}{space 1}   34.55{col 50}{space 3}0.000{col 58}{space 4} .7775514{col 71}{space 3} .8753942
{txt}{space 7}hasswf2_1 {c |}{col 18}{res}{space 2}-.4174555{col 30}{space 2} .1582369{col 41}{space 1}   -2.64{col 50}{space 3}0.013{col 58}{space 4}-.7410863{col 71}{space 3}-.0938247
{txt}totalrentspcln_1 {c |}{col 18}{res}{space 2}-.3374149{col 30}{space 2} .0952327{col 41}{space 1}   -3.54{col 50}{space 3}0.001{col 58}{space 4}-.5321876{col 71}{space 3}-.1426423
{txt}{space 6}rgdppcln_1 {c |}{col 18}{res}{space 2}-.1223009{col 30}{space 2} .1831522{col 41}{space 1}   -0.67{col 50}{space 3}0.510{col 58}{space 4}-.4968892{col 71}{space 3} .2522875
{txt}{space 5}p_polity2_1 {c |}{col 18}{res}{space 2} .0048921{col 30}{space 2} .0116721{col 41}{space 1}    0.42{col 50}{space 3}0.678{col 58}{space 4}  -.01898{col 71}{space 3} .0287642
{txt}{space 7}bci_bci_1 {c |}{col 18}{res}{space 2}  -.09384{col 30}{space 2}  .032809{col 41}{space 1}   -2.86{col 50}{space 3}0.008{col 58}{space 4}-.1609419{col 71}{space 3}-.0267382
{txt}{space 9}dr_sg_1 {c |}{col 18}{res}{space 2} .1226704{col 30}{space 2} .0189428{col 41}{space 1}    6.48{col 50}{space 3}0.000{col 58}{space 4} .0839281{col 71}{space 3} .1614128
{txt}{space 16} {c |}
{space 12}year {c |}
{space 11}1932  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (empty)
{space 11}1933  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1934  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1935  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1936  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1937  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1938  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1939  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1940  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1941  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1942  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1943  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1944  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1945  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1946  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1947  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1948  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1949  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1950  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1951  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1952  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1953  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1954  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1955  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1956  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1957  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1958  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1959  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1960  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1961  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1962  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1963  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1964  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1965  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1966  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1967  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1968  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1969  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1970  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1971  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1972  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1973  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1974  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1975  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1976  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1977  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1978  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1979  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1980  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1981  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1982  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1983  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1984  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1985  {c |}{col 18}{res}{space 2} 14.26967{col 30}{space 2}  2.31571{col 41}{space 1}    6.16{col 50}{space 3}0.000{col 58}{space 4} 9.533508{col 71}{space 3} 19.00583
{txt}{space 11}1986  {c |}{col 18}{res}{space 2} 12.63886{col 30}{space 2} 2.327475{col 41}{space 1}    5.43{col 50}{space 3}0.000{col 58}{space 4} 7.878643{col 71}{space 3} 17.39908
{txt}{space 11}1987  {c |}{col 18}{res}{space 2} 13.21094{col 30}{space 2} 2.321281{col 41}{space 1}    5.69{col 50}{space 3}0.000{col 58}{space 4} 8.463386{col 71}{space 3} 17.95849
{txt}{space 11}1988  {c |}{col 18}{res}{space 2} 13.46409{col 30}{space 2}  2.31666{col 41}{space 1}    5.81{col 50}{space 3}0.000{col 58}{space 4} 8.725993{col 71}{space 3}  18.2022
{txt}{space 11}1989  {c |}{col 18}{res}{space 2} 13.93813{col 30}{space 2} 2.314772{col 41}{space 1}    6.02{col 50}{space 3}0.000{col 58}{space 4} 9.203895{col 71}{space 3} 18.67237
{txt}{space 11}1990  {c |}{col 18}{res}{space 2} 13.47178{col 30}{space 2} 2.310588{col 41}{space 1}    5.83{col 50}{space 3}0.000{col 58}{space 4} 8.746095{col 71}{space 3} 18.19746
{txt}{space 11}1991  {c |}{col 18}{res}{space 2} 13.24689{col 30}{space 2} 2.312656{col 41}{space 1}    5.73{col 50}{space 3}0.000{col 58}{space 4} 8.516977{col 71}{space 3}  17.9768
{txt}{space 11}1992  {c |}{col 18}{res}{space 2} 14.13361{col 30}{space 2}  2.31116{col 41}{space 1}    6.12{col 50}{space 3}0.000{col 58}{space 4} 9.406752{col 71}{space 3} 18.86046
{txt}{space 11}1993  {c |}{col 18}{res}{space 2} 14.54737{col 30}{space 2} 2.311914{col 41}{space 1}    6.29{col 50}{space 3}0.000{col 58}{space 4} 9.818976{col 71}{space 3} 19.27577
{txt}{space 11}1994  {c |}{col 18}{res}{space 2} 14.55169{col 30}{space 2}  2.32023{col 41}{space 1}    6.27{col 50}{space 3}0.000{col 58}{space 4} 9.806282{col 71}{space 3} 19.29709
{txt}{space 11}1995  {c |}{col 18}{res}{space 2} 14.16041{col 30}{space 2} 2.321761{col 41}{space 1}    6.10{col 50}{space 3}0.000{col 58}{space 4} 9.411873{col 71}{space 3} 18.90894
{txt}{space 11}1996  {c |}{col 18}{res}{space 2} 13.47864{col 30}{space 2} 2.323452{col 41}{space 1}    5.80{col 50}{space 3}0.000{col 58}{space 4} 8.726645{col 71}{space 3} 18.23063
{txt}{space 11}1997  {c |}{col 18}{res}{space 2}  14.7389{col 30}{space 2}  2.32458{col 41}{space 1}    6.34{col 50}{space 3}0.000{col 58}{space 4} 9.984596{col 71}{space 3}  19.4932
{txt}{space 11}1998  {c |}{col 18}{res}{space 2} 14.98699{col 30}{space 2} 2.333632{col 41}{space 1}    6.42{col 50}{space 3}0.000{col 58}{space 4} 10.21418{col 71}{space 3}  19.7598
{txt}{space 11}1999  {c |}{col 18}{res}{space 2} 14.22272{col 30}{space 2} 2.344194{col 41}{space 1}    6.07{col 50}{space 3}0.000{col 58}{space 4} 9.428301{col 71}{space 3} 19.01713
{txt}{space 11}2000  {c |}{col 18}{res}{space 2} 14.92018{col 30}{space 2} 2.349779{col 41}{space 1}    6.35{col 50}{space 3}0.000{col 58}{space 4} 10.11434{col 71}{space 3} 19.72602
{txt}{space 11}2001  {c |}{col 18}{res}{space 2} 14.04449{col 30}{space 2} 2.360446{col 41}{space 1}    5.95{col 50}{space 3}0.000{col 58}{space 4} 9.216838{col 71}{space 3} 18.87214
{txt}{space 11}2002  {c |}{col 18}{res}{space 2} 12.83737{col 30}{space 2} 2.364159{col 41}{space 1}    5.43{col 50}{space 3}0.000{col 58}{space 4} 8.002123{col 71}{space 3} 17.67262
{txt}{space 11}2003  {c |}{col 18}{res}{space 2} 13.95541{col 30}{space 2} 2.357795{col 41}{space 1}    5.92{col 50}{space 3}0.000{col 58}{space 4} 9.133177{col 71}{space 3} 18.77764
{txt}{space 11}2004  {c |}{col 18}{res}{space 2} 14.26974{col 30}{space 2} 2.364868{col 41}{space 1}    6.03{col 50}{space 3}0.000{col 58}{space 4} 9.433045{col 71}{space 3} 19.10644
{txt}{space 11}2005  {c |}{col 18}{res}{space 2} 14.20563{col 30}{space 2} 2.377005{col 41}{space 1}    5.98{col 50}{space 3}0.000{col 58}{space 4} 9.344113{col 71}{space 3} 19.06716
{txt}{space 11}2006  {c |}{col 18}{res}{space 2} 14.03422{col 30}{space 2} 2.381055{col 41}{space 1}    5.89{col 50}{space 3}0.000{col 58}{space 4}  9.16442{col 71}{space 3} 18.90403
{txt}{space 11}2007  {c |}{col 18}{res}{space 2} 14.39825{col 30}{space 2} 2.388093{col 41}{space 1}    6.03{col 50}{space 3}0.000{col 58}{space 4} 9.514053{col 71}{space 3} 19.28245
{txt}{space 11}2008  {c |}{col 18}{res}{space 2} 12.55095{col 30}{space 2} 2.404853{col 41}{space 1}    5.22{col 50}{space 3}0.000{col 58}{space 4}  7.63247{col 71}{space 3} 17.46942
{txt}{space 11}2009  {c |}{col 18}{res}{space 2} 8.643091{col 30}{space 2} 2.435579{col 41}{space 1}    3.55{col 50}{space 3}0.001{col 58}{space 4} 3.661773{col 71}{space 3} 13.62441
{txt}{space 11}2010  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2011  {c |}{col 18}{res}{space 2} 17.50588{col 30}{space 2} 2.544521{col 41}{space 1}    6.88{col 50}{space 3}0.000{col 58}{space 4} 12.30175{col 71}{space 3} 22.71001
{txt}{space 11}2012  {c |}{col 18}{res}{space 2} 14.21895{col 30}{space 2} 2.316282{col 41}{space 1}    6.14{col 50}{space 3}0.000{col 58}{space 4} 9.481617{col 71}{space 3} 18.95628
{txt}{space 11}2013  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2014  {c |}{col 18}{res}{space 2} 17.25096{col 30}{space 2} 2.397281{col 41}{space 1}    7.20{col 50}{space 3}0.000{col 58}{space 4} 12.34797{col 71}{space 3} 22.15395
{txt}{space 11}2015  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2016  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2017  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2018  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2019  {c |}{col 18}{res}{space 2} 10.72228{col 30}{space 2} 2.434543{col 41}{space 1}    4.40{col 50}{space 3}0.000{col 58}{space 4}  5.74308{col 71}{space 3} 15.70148
{txt}{space 11}2020  {c |}{col 18}{res}{space 2} 18.68175{col 30}{space 2} 2.482677{col 41}{space 1}    7.52{col 50}{space 3}0.000{col 58}{space 4}  13.6041{col 71}{space 3} 23.75939
{txt}{space 11}2021  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2022  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2023  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 16} {c |}
{space 11}_cons {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}


{com}. outreg2 using tab2.xls, replace ctitle(Economic Globalization)  dec(3) label  e(all) 2aster
{txt}{browse `"tab2.xls"'}
{browse `"C:\ado\SWIFT"' :dir}{com} : {txt}{stata `"seeout using "tab2.txt", label"':seeout}

{com}. 
. xtscc dr_pg dr_pg_1 hasswf2_1 totalrentspcln_1 rgdppcln_1 p_polity2_1 bci_bci_1 dr_sg_1 i.year, fe
{res}
{txt}Regression with Driscoll-Kraay standard errors{col 50}Number of obs     ={res}      2904
{txt}Method: {res}Fixed-effects regression{col 50}{txt}Number of groups  ={res}       144
{txt}Group variable (i): {res}cowcode{col 50}{txt}F({res} 36{txt},{res}    29{txt}){col 68}={res}  6.22e+07
{txt}maximum lag: {res}3{col 50}{txt}Prob > F          =    {res}0.0000
{col 50}{txt}within R-squared  =    {res}0.8869

{txt}{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}  Drisc/Kraay
{col 1}           dr_pg{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}dr_pg_1 {c |}{col 18}{res}{space 2} .7933746{col 30}{space 2} .0386605{col 41}{space 1}   20.52{col 50}{space 3}0.000{col 58}{space 4}  .714305{col 71}{space 3} .8724442
{txt}{space 7}hasswf2_1 {c |}{col 18}{res}{space 2} .2323861{col 30}{space 2} .3337292{col 41}{space 1}    0.70{col 50}{space 3}0.492{col 58}{space 4}-.4501667{col 71}{space 3} .9149388
{txt}totalrentspcln_1 {c |}{col 18}{res}{space 2}-.1832191{col 30}{space 2} .0983503{col 41}{space 1}   -1.86{col 50}{space 3}0.073{col 58}{space 4}-.3843681{col 71}{space 3}   .01793
{txt}{space 6}rgdppcln_1 {c |}{col 18}{res}{space 2} .4239441{col 30}{space 2} .2751335{col 41}{space 1}    1.54{col 50}{space 3}0.134{col 58}{space 4}-.1387671{col 71}{space 3} .9866553
{txt}{space 5}p_polity2_1 {c |}{col 18}{res}{space 2}  .016722{col 30}{space 2} .0154612{col 41}{space 1}    1.08{col 50}{space 3}0.288{col 58}{space 4}-.0148998{col 71}{space 3} .0483437
{txt}{space 7}bci_bci_1 {c |}{col 18}{res}{space 2} .1694476{col 30}{space 2} .0674534{col 41}{space 1}    2.51{col 50}{space 3}0.018{col 58}{space 4} .0314899{col 71}{space 3} .3074054
{txt}{space 9}dr_sg_1 {c |}{col 18}{res}{space 2} .0699235{col 30}{space 2} .0226288{col 41}{space 1}    3.09{col 50}{space 3}0.004{col 58}{space 4} .0236425{col 71}{space 3} .1162045
{txt}{space 16} {c |}
{space 12}year {c |}
{space 11}1932  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (empty)
{space 11}1933  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1934  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1935  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1936  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1937  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1938  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1939  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1940  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1941  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1942  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1943  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1944  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1945  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1946  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1947  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1948  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1949  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1950  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1951  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1952  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1953  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1954  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1955  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1956  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1957  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1958  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1959  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1960  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1961  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1962  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1963  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1964  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1965  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1966  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1967  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1968  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1969  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1970  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1971  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1972  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1973  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1974  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1975  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1976  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1977  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1978  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1979  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1980  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1981  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1982  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1983  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1984  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1985  {c |}{col 18}{res}{space 2}-1.227942{col 30}{space 2}   4.2237{col 41}{space 1}   -0.29{col 50}{space 3}0.773{col 58}{space 4}-9.866378{col 71}{space 3} 7.410494
{txt}{space 11}1986  {c |}{col 18}{res}{space 2}-1.297972{col 30}{space 2} 4.185446{col 41}{space 1}   -0.31{col 50}{space 3}0.759{col 58}{space 4}-9.858169{col 71}{space 3} 7.262226
{txt}{space 11}1987  {c |}{col 18}{res}{space 2}-2.646252{col 30}{space 2}  4.16525{col 41}{space 1}   -0.64{col 50}{space 3}0.530{col 58}{space 4}-11.16514{col 71}{space 3}  5.87264
{txt}{space 11}1988  {c |}{col 18}{res}{space 2}-2.596936{col 30}{space 2} 4.174888{col 41}{space 1}   -0.62{col 50}{space 3}0.539{col 58}{space 4}-11.13554{col 71}{space 3} 5.941668
{txt}{space 11}1989  {c |}{col 18}{res}{space 2}-2.123467{col 30}{space 2} 4.181342{col 41}{space 1}   -0.51{col 50}{space 3}0.615{col 58}{space 4}-10.67527{col 71}{space 3} 6.428337
{txt}{space 11}1990  {c |}{col 18}{res}{space 2}-1.657901{col 30}{space 2} 4.174678{col 41}{space 1}   -0.40{col 50}{space 3}0.694{col 58}{space 4}-10.19608{col 71}{space 3} 6.880275
{txt}{space 11}1991  {c |}{col 18}{res}{space 2} 1.622192{col 30}{space 2}  4.15515{col 41}{space 1}    0.39{col 50}{space 3}0.699{col 58}{space 4}-6.876045{col 71}{space 3} 10.12043
{txt}{space 11}1992  {c |}{col 18}{res}{space 2} .6046873{col 30}{space 2} 4.074261{col 41}{space 1}    0.15{col 50}{space 3}0.883{col 58}{space 4}-7.728111{col 71}{space 3} 8.937486
{txt}{space 11}1993  {c |}{col 18}{res}{space 2} 1.261729{col 30}{space 2} 4.034613{col 41}{space 1}    0.31{col 50}{space 3}0.757{col 58}{space 4}-6.989981{col 71}{space 3} 9.513438
{txt}{space 11}1994  {c |}{col 18}{res}{space 2} .9311646{col 30}{space 2}  3.98261{col 41}{space 1}    0.23{col 50}{space 3}0.817{col 58}{space 4}-7.214188{col 71}{space 3} 9.076518
{txt}{space 11}1995  {c |}{col 18}{res}{space 2} .8098451{col 30}{space 2} 3.945667{col 41}{space 1}    0.21{col 50}{space 3}0.839{col 58}{space 4} -7.25995{col 71}{space 3}  8.87964
{txt}{space 11}1996  {c |}{col 18}{res}{space 2}   .00257{col 30}{space 2} 3.926401{col 41}{space 1}    0.00{col 50}{space 3}0.999{col 58}{space 4}-8.027821{col 71}{space 3} 8.032961
{txt}{space 11}1997  {c |}{col 18}{res}{space 2} .5641923{col 30}{space 2} 3.901719{col 41}{space 1}    0.14{col 50}{space 3}0.886{col 58}{space 4}-7.415719{col 71}{space 3} 8.544104
{txt}{space 11}1998  {c |}{col 18}{res}{space 2}  .442943{col 30}{space 2} 3.880327{col 41}{space 1}    0.11{col 50}{space 3}0.910{col 58}{space 4}-7.493216{col 71}{space 3} 8.379102
{txt}{space 11}1999  {c |}{col 18}{res}{space 2}  1.33667{col 30}{space 2} 3.848365{col 41}{space 1}    0.35{col 50}{space 3}0.731{col 58}{space 4}-6.534121{col 71}{space 3} 9.207461
{txt}{space 11}2000  {c |}{col 18}{res}{space 2} 1.139031{col 30}{space 2} 3.821288{col 41}{space 1}    0.30{col 50}{space 3}0.768{col 58}{space 4}-6.676381{col 71}{space 3} 8.954443
{txt}{space 11}2001  {c |}{col 18}{res}{space 2} 1.393345{col 30}{space 2} 3.814378{col 41}{space 1}    0.37{col 50}{space 3}0.718{col 58}{space 4}-6.407934{col 71}{space 3} 9.194624
{txt}{space 11}2002  {c |}{col 18}{res}{space 2} .0745985{col 30}{space 2} 3.790637{col 41}{space 1}    0.02{col 50}{space 3}0.984{col 58}{space 4}-7.678124{col 71}{space 3} 7.827321
{txt}{space 11}2003  {c |}{col 18}{res}{space 2} 1.715431{col 30}{space 2} 3.789964{col 41}{space 1}    0.45{col 50}{space 3}0.654{col 58}{space 4}-6.035915{col 71}{space 3} 9.466777
{txt}{space 11}2004  {c |}{col 18}{res}{space 2} 1.822756{col 30}{space 2} 3.777314{col 41}{space 1}    0.48{col 50}{space 3}0.633{col 58}{space 4}-5.902719{col 71}{space 3} 9.548231
{txt}{space 11}2005  {c |}{col 18}{res}{space 2} 1.441406{col 30}{space 2} 3.771625{col 41}{space 1}    0.38{col 50}{space 3}0.705{col 58}{space 4}-6.272432{col 71}{space 3} 9.155245
{txt}{space 11}2006  {c |}{col 18}{res}{space 2} 2.515558{col 30}{space 2} 3.767151{col 41}{space 1}    0.67{col 50}{space 3}0.510{col 58}{space 4} -5.18913{col 71}{space 3} 10.22025
{txt}{space 11}2007  {c |}{col 18}{res}{space 2} 2.652466{col 30}{space 2} 3.752771{col 41}{space 1}    0.71{col 50}{space 3}0.485{col 58}{space 4}-5.022812{col 71}{space 3} 10.32774
{txt}{space 11}2008  {c |}{col 18}{res}{space 2} 2.160134{col 30}{space 2} 3.750315{col 41}{space 1}    0.58{col 50}{space 3}0.569{col 58}{space 4}-5.510121{col 71}{space 3} 9.830389
{txt}{space 11}2009  {c |}{col 18}{res}{space 2} 14.22358{col 30}{space 2} 4.090221{col 41}{space 1}    3.48{col 50}{space 3}0.002{col 58}{space 4} 5.858139{col 71}{space 3} 22.58902
{txt}{space 11}2010  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2011  {c |}{col 18}{res}{space 2} 5.164982{col 30}{space 2} 3.744774{col 41}{space 1}    1.38{col 50}{space 3}0.178{col 58}{space 4}-2.493941{col 71}{space 3}  12.8239
{txt}{space 11}2012  {c |}{col 18}{res}{space 2} 5.930072{col 30}{space 2} 3.720571{col 41}{space 1}    1.59{col 50}{space 3}0.122{col 58}{space 4} -1.67935{col 71}{space 3} 13.53949
{txt}{space 11}2013  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2014  {c |}{col 18}{res}{space 2} 1.982002{col 30}{space 2} 3.790766{col 41}{space 1}    0.52{col 50}{space 3}0.605{col 58}{space 4}-5.770985{col 71}{space 3} 9.734989
{txt}{space 11}2015  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2016  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2017  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2018  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2019  {c |}{col 18}{res}{space 2} 3.650758{col 30}{space 2} 3.794363{col 41}{space 1}    0.96{col 50}{space 3}0.344{col 58}{space 4}-4.109586{col 71}{space 3}  11.4111
{txt}{space 11}2020  {c |}{col 18}{res}{space 2}  8.01807{col 30}{space 2} 3.678733{col 41}{space 1}    2.18{col 50}{space 3}0.038{col 58}{space 4} .4942166{col 71}{space 3} 15.54192
{txt}{space 11}2021  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2022  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2023  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 16} {c |}
{space 11}_cons {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}


{com}. outreg2 using tab2.xls, append ctitle(Political Globalization)  dec(3) label  e(all) 2aster
{txt}{browse `"tab2.xls"'}
{browse `"C:\ado\SWIFT"' :dir}{com} : {txt}{stata `"seeout using "tab2.txt", label"':seeout}

{com}. 
. xtscc bti_ic2 hasswf2_1 totalrentspcln_1 rgdppcln_1 p_polity2_1 bci_bci_1 dr_sg_1 i.year, fe
{res}
{txt}Regression with Driscoll-Kraay standard errors{col 50}Number of obs     ={res}       421
{txt}Method: {res}Fixed-effects regression{col 50}{txt}Number of groups  ={res}       109
{txt}Group variable (i): {res}cowcode{col 50}{txt}F({res} 15{txt},{res}     9{txt}){col 68}={res}    796.57
{txt}maximum lag: {res}2{col 50}{txt}Prob > F          =    {res}0.0000
{col 50}{txt}within R-squared  =    {res}0.1944

{txt}{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}  Drisc/Kraay
{col 1}         bti_ic2{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}hasswf2_1 {c |}{col 18}{res}{space 2}-.4355046{col 30}{space 2} .0652976{col 41}{space 1}   -6.67{col 50}{space 3}0.000{col 58}{space 4}-.5832179{col 71}{space 3}-.2877912
{txt}totalrentspcln_1 {c |}{col 18}{res}{space 2}-.0299591{col 30}{space 2} .0403421{col 41}{space 1}   -0.74{col 50}{space 3}0.477{col 58}{space 4}-.1212192{col 71}{space 3}  .061301
{txt}{space 6}rgdppcln_1 {c |}{col 18}{res}{space 2}-.4229643{col 30}{space 2} .3241185{col 41}{space 1}   -1.30{col 50}{space 3}0.224{col 58}{space 4}-1.156171{col 71}{space 3} .3102427
{txt}{space 5}p_polity2_1 {c |}{col 18}{res}{space 2} .0006829{col 30}{space 2} .0145555{col 41}{space 1}    0.05{col 50}{space 3}0.964{col 58}{space 4}-.0322439{col 71}{space 3} .0336097
{txt}{space 7}bci_bci_1 {c |}{col 18}{res}{space 2}-.1495198{col 30}{space 2} .0320647{col 41}{space 1}   -4.66{col 50}{space 3}0.001{col 58}{space 4}-.2220552{col 71}{space 3}-.0769844
{txt}{space 9}dr_sg_1 {c |}{col 18}{res}{space 2}-.0057182{col 30}{space 2} .0046026{col 41}{space 1}   -1.24{col 50}{space 3}0.245{col 58}{space 4}-.0161301{col 71}{space 3} .0046937
{txt}{space 16} {c |}
{space 12}year {c |}
{space 11}1932  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (empty)
{space 11}1933  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1934  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1935  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1936  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1937  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1938  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1939  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1940  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1941  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1942  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1943  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1944  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1945  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1946  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1947  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1948  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1949  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1950  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1951  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1952  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1953  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1954  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1955  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1956  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1957  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1958  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1959  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1960  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1961  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1962  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1963  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1964  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1965  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1966  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1967  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1968  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1969  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1970  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1971  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1972  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1973  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1974  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1975  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1976  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1977  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1978  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1979  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1980  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1981  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1982  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1983  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1984  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1985  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1986  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1987  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1988  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1989  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1990  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1991  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1992  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1993  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1994  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1995  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1996  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1997  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1998  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}1999  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2000  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2001  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2002  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2003  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2004  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2005  {c |}{col 18}{res}{space 2} 19.43517{col 30}{space 2} 4.688376{col 41}{space 1}    4.15{col 50}{space 3}0.003{col 58}{space 4} 8.829328{col 71}{space 3} 30.04101
{txt}{space 11}2006  {c |}{col 18}{res}{space 2}  19.4674{col 30}{space 2} 4.690375{col 41}{space 1}    4.15{col 50}{space 3}0.002{col 58}{space 4} 8.857033{col 71}{space 3} 30.07776
{txt}{space 11}2007  {c |}{col 18}{res}{space 2} 19.51431{col 30}{space 2} 4.694886{col 41}{space 1}    4.16{col 50}{space 3}0.002{col 58}{space 4} 8.893743{col 71}{space 3} 30.13488
{txt}{space 11}2008  {c |}{col 18}{res}{space 2} 19.45227{col 30}{space 2} 4.701141{col 41}{space 1}    4.14{col 50}{space 3}0.003{col 58}{space 4} 8.817553{col 71}{space 3} 30.08699
{txt}{space 11}2009  {c |}{col 18}{res}{space 2} 18.12301{col 30}{space 2} 4.657817{col 41}{space 1}    3.89{col 50}{space 3}0.004{col 58}{space 4} 7.586298{col 71}{space 3} 28.65973
{txt}{space 11}2010  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2011  {c |}{col 18}{res}{space 2} 18.67521{col 30}{space 2} 4.289095{col 41}{space 1}    4.35{col 50}{space 3}0.002{col 58}{space 4} 8.972604{col 71}{space 3} 28.37782
{txt}{space 11}2012  {c |}{col 18}{res}{space 2} 19.72313{col 30}{space 2} 4.805918{col 41}{space 1}    4.10{col 50}{space 3}0.003{col 58}{space 4} 8.851391{col 71}{space 3} 30.59488
{txt}{space 11}2013  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2014  {c |}{col 18}{res}{space 2} 17.82084{col 30}{space 2}  4.45729{col 41}{space 1}    4.00{col 50}{space 3}0.003{col 58}{space 4} 7.737751{col 71}{space 3} 27.90393
{txt}{space 11}2015  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2016  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2017  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2018  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2019  {c |}{col 18}{res}{space 2} 16.79571{col 30}{space 2} 4.679588{col 41}{space 1}    3.59{col 50}{space 3}0.006{col 58}{space 4} 6.209743{col 71}{space 3} 27.38167
{txt}{space 11}2020  {c |}{col 18}{res}{space 2} 20.58271{col 30}{space 2} 5.085664{col 41}{space 1}    4.05{col 50}{space 3}0.003{col 58}{space 4} 9.078142{col 71}{space 3} 32.08729
{txt}{space 11}2021  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2022  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2023  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 16} {c |}
{space 11}_cons {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}


{com}. outreg2 using tab2.xls, append ctitle(International Cooperation)  dec(3) label  e(all)  2aster
{txt}{browse `"tab2.xls"'}
{browse `"C:\ado\SWIFT"' :dir}{com} : {txt}{stata `"seeout using "tab2.txt", label"':seeout}

{com}. 
. 
. 
. 
. ***********************************************************************************************
. *** Move to SWF-level analysis (Manuscript, Table 3)
. 
. drop if hasswf2==0
{txt}(9,911 observations deleted)

{com}. 
. ***********************************************************************************************
. ***TOPIC 2: DOMESTIC ECONOMIC DEVELOPMENT-MANDATE ***
. ***********************************************************************************************
. 
. *** DIAGNOSTICS
. 
. xtreg linaburg2 pdevde_1 pstab_1 psave_1  orioil_1 origas_1 orimin_1 orinonc_1 p_polity2_1 bci_bci_1 i.year, fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       161
{txt}Group variable: {res}cowcode{txt}{col 49}Number of groups{col 67}={col 69}{res}        32

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.5967{col 63}{txt}min{col 67}={col 69}{res}         1
{txt}     between = {res}0.1856{col 63}{txt}avg{col 67}={col 69}{res}       5.0
{txt}     overall = {res}0.0738{col 63}{txt}max{col 67}={col 69}{res}        14

{txt}{col 49}F({res}25{txt},{res}104{txt}){col 67}={col 70}{res}     6.15
{txt}corr(u_i, Xb){col 16}= {res}-0.9132{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}   linaburg2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}pdevde_1 {c |}{col 14}{res}{space 2} 1.434089{col 26}{space 2} 1.483098{col 37}{space 1}    0.97{col 46}{space 3}0.336{col 54}{space 4} -1.50695{col 67}{space 3} 4.375128
{txt}{space 5}pstab_1 {c |}{col 14}{res}{space 2}-3.760672{col 26}{space 2} 1.573999{col 37}{space 1}   -2.39{col 46}{space 3}0.019{col 54}{space 4}-6.881972{col 67}{space 3}-.6393726
{txt}{space 5}psave_1 {c |}{col 14}{res}{space 2}  2.06311{col 26}{space 2} 1.932383{col 37}{space 1}    1.07{col 46}{space 3}0.288{col 54}{space 4}-1.768878{col 67}{space 3} 5.895097
{txt}{space 4}orioil_1 {c |}{col 14}{res}{space 2}-.9345883{col 26}{space 2} 1.599569{col 37}{space 1}   -0.58{col 46}{space 3}0.560{col 54}{space 4}-4.106593{col 67}{space 3} 2.237416
{txt}{space 4}origas_1 {c |}{col 14}{res}{space 2} 10.91093{col 26}{space 2} 3.470181{col 37}{space 1}    3.14{col 46}{space 3}0.002{col 54}{space 4}  4.02943{col 67}{space 3} 17.79243
{txt}{space 4}orimin_1 {c |}{col 14}{res}{space 2}-10.90545{col 26}{space 2} 3.327409{col 37}{space 1}   -3.28{col 46}{space 3}0.001{col 54}{space 4}-17.50383{col 67}{space 3}-4.307073
{txt}{space 3}orinonc_1 {c |}{col 14}{res}{space 2} .7512801{col 26}{space 2} .8960874{col 37}{space 1}    0.84{col 46}{space 3}0.404{col 54}{space 4}-1.025695{col 67}{space 3} 2.528255
{txt}{space 1}p_polity2_1 {c |}{col 14}{res}{space 2}-.0508554{col 26}{space 2} .0731544{col 37}{space 1}   -0.70{col 46}{space 3}0.488{col 54}{space 4}-.1959234{col 67}{space 3} .0942125
{txt}{space 3}bci_bci_1 {c |}{col 14}{res}{space 2}-.0201443{col 26}{space 2} .0371629{col 37}{space 1}   -0.54{col 46}{space 3}0.589{col 54}{space 4}-.0938398{col 67}{space 3} .0535513
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2002  {c |}{col 14}{res}{space 2} 2.645554{col 26}{space 2}  1.70129{col 37}{space 1}    1.56{col 46}{space 3}0.123{col 54}{space 4}-.7281685{col 67}{space 3} 6.019277
{txt}{space 7}2005  {c |}{col 14}{res}{space 2}-3.973093{col 26}{space 2} 1.653001{col 37}{space 1}   -2.40{col 46}{space 3}0.018{col 54}{space 4}-7.251057{col 67}{space 3}-.6951298
{txt}{space 7}2006  {c |}{col 14}{res}{space 2}-2.541144{col 26}{space 2} 1.469494{col 37}{space 1}   -1.73{col 46}{space 3}0.087{col 54}{space 4}-5.455205{col 67}{space 3} .3729169
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}-4.775682{col 26}{space 2} 1.507341{col 37}{space 1}   -3.17{col 46}{space 3}0.002{col 54}{space 4}-7.764796{col 67}{space 3}-1.786568
{txt}{space 7}2008  {c |}{col 14}{res}{space 2} -3.81079{col 26}{space 2} 1.373782{col 37}{space 1}   -2.77{col 46}{space 3}0.007{col 54}{space 4}-6.535052{col 67}{space 3}-1.086528
{txt}{space 7}2009  {c |}{col 14}{res}{space 2}-3.346921{col 26}{space 2} 1.380752{col 37}{space 1}   -2.42{col 46}{space 3}0.017{col 54}{space 4}-6.085004{col 67}{space 3}-.6088385
{txt}{space 7}2010  {c |}{col 14}{res}{space 2}-2.962295{col 26}{space 2} 1.384605{col 37}{space 1}   -2.14{col 46}{space 3}0.035{col 54}{space 4} -5.70802{col 67}{space 3} -.216571
{txt}{space 7}2011  {c |}{col 14}{res}{space 2}-2.513772{col 26}{space 2} 1.372824{col 37}{space 1}   -1.83{col 46}{space 3}0.070{col 54}{space 4}-5.236134{col 67}{space 3} .2085896
{txt}{space 7}2012  {c |}{col 14}{res}{space 2}-2.147101{col 26}{space 2} 1.376975{col 37}{space 1}   -1.56{col 46}{space 3}0.122{col 54}{space 4}-4.877694{col 67}{space 3} .5834917
{txt}{space 7}2013  {c |}{col 14}{res}{space 2}-2.084608{col 26}{space 2} 1.356354{col 37}{space 1}   -1.54{col 46}{space 3}0.127{col 54}{space 4}-4.774309{col 67}{space 3} .6050936
{txt}{space 7}2014  {c |}{col 14}{res}{space 2}-2.418194{col 26}{space 2} 1.346798{col 37}{space 1}   -1.80{col 46}{space 3}0.075{col 54}{space 4}-5.088945{col 67}{space 3} .2525571
{txt}{space 7}2015  {c |}{col 14}{res}{space 2}-1.890027{col 26}{space 2} 1.380693{col 37}{space 1}   -1.37{col 46}{space 3}0.174{col 54}{space 4}-4.627992{col 67}{space 3} .8479393
{txt}{space 7}2016  {c |}{col 14}{res}{space 2}-2.074582{col 26}{space 2} 1.379206{col 37}{space 1}   -1.50{col 46}{space 3}0.136{col 54}{space 4}-4.809599{col 67}{space 3} .6604348
{txt}{space 7}2017  {c |}{col 14}{res}{space 2}-2.331725{col 26}{space 2} 1.372743{col 37}{space 1}   -1.70{col 46}{space 3}0.092{col 54}{space 4}-5.053926{col 67}{space 3} .3904754
{txt}{space 7}2018  {c |}{col 14}{res}{space 2}-2.318058{col 26}{space 2} 1.333405{col 37}{space 1}   -1.74{col 46}{space 3}0.085{col 54}{space 4} -4.96225{col 67}{space 3} .3261341
{txt}{space 7}2021  {c |}{col 14}{res}{space 2}-2.312787{col 26}{space 2} 1.359998{col 37}{space 1}   -1.70{col 46}{space 3}0.092{col 54}{space 4}-5.009713{col 67}{space 3} .3841396
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 4.329251{col 26}{space 2}  2.80004{col 37}{space 1}    1.55{col 46}{space 3}0.125{col 54}{space 4}-1.223333{col 67}{space 3} 9.881836
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} 7.2053808
     {txt}sigma_e {c |} {res} .78001717
         {txt}rho {c |} {res} .98841664{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}31{txt}, {res}104{txt}) = {res}20.69{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. testparm i.year

{p 0 7}{space 1}{text:( 1)}{space 1} {res}2002.year = 0{p_end}
{p 0 7}{space 1}{text:( 2)}{space 1} 2005.year = 0{p_end}
{p 0 7}{space 1}{text:( 3)}{space 1} 2006.year = 0{p_end}
{p 0 7}{space 1}{text:( 4)}{space 1} 2007.year = 0{p_end}
{p 0 7}{space 1}{text:( 5)}{space 1} 2008.year = 0{p_end}
{p 0 7}{space 1}{text:( 6)}{space 1} 2009.year = 0{p_end}
{p 0 7}{space 1}{text:( 7)}{space 1} 2010.year = 0{p_end}
{p 0 7}{space 1}{text:( 8)}{space 1} 2011.year = 0{p_end}
{p 0 7}{space 1}{text:( 9)}{space 1} 2012.year = 0{p_end}
{p 0 7}{space 1}{text:(10)}{space 1} 2013.year = 0{p_end}
{p 0 7}{space 1}{text:(11)}{space 1} 2014.year = 0{p_end}
{p 0 7}{space 1}{text:(12)}{space 1} 2015.year = 0{p_end}
{p 0 7}{space 1}{text:(13)}{space 1} 2016.year = 0{p_end}
{p 0 7}{space 1}{text:(14)}{space 1} 2017.year = 0{p_end}
{p 0 7}{space 1}{text:(15)}{space 1} 2018.year = 0{p_end}
{p 0 7}{space 1}{text:(16)}{space 1} 2021.year = 0{p_end}

{txt}       F( 16,   104) ={res}    5.29
{txt}{col 13}Prob > F ={res}    0.0000
{txt}
{com}. xttest3

{txt}Modified Wald test for groupwise heteroskedasticity
in fixed effect regression model

{res}H0: sigma(i)^2 = sigma^2 for all i

{txt}chi2 (32)  =   {res} 5.3e+54
{txt}Prob>chi2 =    {res}  0.0000

{txt}
{com}. xtserial linaburg2 pdevde_1 pstab_1 psave_1  orioil_1 origas_1 orimin_1 orinonc_1 p_polity2_1 bci_bci_1

{txt}Wooldridge test for autocorrelation in panel data
H0: no first-order autocorrelation
{col 5}F(  1,      20) = {res}    10.244
{txt}{col 12}Prob > F = {res}     0.0045
{txt}
{com}. xtreg linaburg2 pdevde_1 pstab_1 psave_1  orioil_1 origas_1 orimin_1 orinonc_1 p_polity2_1 bci_bci_1 i.year, fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       161
{txt}Group variable: {res}cowcode{txt}{col 49}Number of groups{col 67}={col 69}{res}        32

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.5967{col 63}{txt}min{col 67}={col 69}{res}         1
{txt}     between = {res}0.1856{col 63}{txt}avg{col 67}={col 69}{res}       5.0
{txt}     overall = {res}0.0738{col 63}{txt}max{col 67}={col 69}{res}        14

{txt}{col 49}F({res}25{txt},{res}104{txt}){col 67}={col 70}{res}     6.15
{txt}corr(u_i, Xb){col 16}= {res}-0.9132{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}   linaburg2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}pdevde_1 {c |}{col 14}{res}{space 2} 1.434089{col 26}{space 2} 1.483098{col 37}{space 1}    0.97{col 46}{space 3}0.336{col 54}{space 4} -1.50695{col 67}{space 3} 4.375128
{txt}{space 5}pstab_1 {c |}{col 14}{res}{space 2}-3.760672{col 26}{space 2} 1.573999{col 37}{space 1}   -2.39{col 46}{space 3}0.019{col 54}{space 4}-6.881972{col 67}{space 3}-.6393726
{txt}{space 5}psave_1 {c |}{col 14}{res}{space 2}  2.06311{col 26}{space 2} 1.932383{col 37}{space 1}    1.07{col 46}{space 3}0.288{col 54}{space 4}-1.768878{col 67}{space 3} 5.895097
{txt}{space 4}orioil_1 {c |}{col 14}{res}{space 2}-.9345883{col 26}{space 2} 1.599569{col 37}{space 1}   -0.58{col 46}{space 3}0.560{col 54}{space 4}-4.106593{col 67}{space 3} 2.237416
{txt}{space 4}origas_1 {c |}{col 14}{res}{space 2} 10.91093{col 26}{space 2} 3.470181{col 37}{space 1}    3.14{col 46}{space 3}0.002{col 54}{space 4}  4.02943{col 67}{space 3} 17.79243
{txt}{space 4}orimin_1 {c |}{col 14}{res}{space 2}-10.90545{col 26}{space 2} 3.327409{col 37}{space 1}   -3.28{col 46}{space 3}0.001{col 54}{space 4}-17.50383{col 67}{space 3}-4.307073
{txt}{space 3}orinonc_1 {c |}{col 14}{res}{space 2} .7512801{col 26}{space 2} .8960874{col 37}{space 1}    0.84{col 46}{space 3}0.404{col 54}{space 4}-1.025695{col 67}{space 3} 2.528255
{txt}{space 1}p_polity2_1 {c |}{col 14}{res}{space 2}-.0508554{col 26}{space 2} .0731544{col 37}{space 1}   -0.70{col 46}{space 3}0.488{col 54}{space 4}-.1959234{col 67}{space 3} .0942125
{txt}{space 3}bci_bci_1 {c |}{col 14}{res}{space 2}-.0201443{col 26}{space 2} .0371629{col 37}{space 1}   -0.54{col 46}{space 3}0.589{col 54}{space 4}-.0938398{col 67}{space 3} .0535513
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2002  {c |}{col 14}{res}{space 2} 2.645554{col 26}{space 2}  1.70129{col 37}{space 1}    1.56{col 46}{space 3}0.123{col 54}{space 4}-.7281685{col 67}{space 3} 6.019277
{txt}{space 7}2005  {c |}{col 14}{res}{space 2}-3.973093{col 26}{space 2} 1.653001{col 37}{space 1}   -2.40{col 46}{space 3}0.018{col 54}{space 4}-7.251057{col 67}{space 3}-.6951298
{txt}{space 7}2006  {c |}{col 14}{res}{space 2}-2.541144{col 26}{space 2} 1.469494{col 37}{space 1}   -1.73{col 46}{space 3}0.087{col 54}{space 4}-5.455205{col 67}{space 3} .3729169
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}-4.775682{col 26}{space 2} 1.507341{col 37}{space 1}   -3.17{col 46}{space 3}0.002{col 54}{space 4}-7.764796{col 67}{space 3}-1.786568
{txt}{space 7}2008  {c |}{col 14}{res}{space 2} -3.81079{col 26}{space 2} 1.373782{col 37}{space 1}   -2.77{col 46}{space 3}0.007{col 54}{space 4}-6.535052{col 67}{space 3}-1.086528
{txt}{space 7}2009  {c |}{col 14}{res}{space 2}-3.346921{col 26}{space 2} 1.380752{col 37}{space 1}   -2.42{col 46}{space 3}0.017{col 54}{space 4}-6.085004{col 67}{space 3}-.6088385
{txt}{space 7}2010  {c |}{col 14}{res}{space 2}-2.962295{col 26}{space 2} 1.384605{col 37}{space 1}   -2.14{col 46}{space 3}0.035{col 54}{space 4} -5.70802{col 67}{space 3} -.216571
{txt}{space 7}2011  {c |}{col 14}{res}{space 2}-2.513772{col 26}{space 2} 1.372824{col 37}{space 1}   -1.83{col 46}{space 3}0.070{col 54}{space 4}-5.236134{col 67}{space 3} .2085896
{txt}{space 7}2012  {c |}{col 14}{res}{space 2}-2.147101{col 26}{space 2} 1.376975{col 37}{space 1}   -1.56{col 46}{space 3}0.122{col 54}{space 4}-4.877694{col 67}{space 3} .5834917
{txt}{space 7}2013  {c |}{col 14}{res}{space 2}-2.084608{col 26}{space 2} 1.356354{col 37}{space 1}   -1.54{col 46}{space 3}0.127{col 54}{space 4}-4.774309{col 67}{space 3} .6050936
{txt}{space 7}2014  {c |}{col 14}{res}{space 2}-2.418194{col 26}{space 2} 1.346798{col 37}{space 1}   -1.80{col 46}{space 3}0.075{col 54}{space 4}-5.088945{col 67}{space 3} .2525571
{txt}{space 7}2015  {c |}{col 14}{res}{space 2}-1.890027{col 26}{space 2} 1.380693{col 37}{space 1}   -1.37{col 46}{space 3}0.174{col 54}{space 4}-4.627992{col 67}{space 3} .8479393
{txt}{space 7}2016  {c |}{col 14}{res}{space 2}-2.074582{col 26}{space 2} 1.379206{col 37}{space 1}   -1.50{col 46}{space 3}0.136{col 54}{space 4}-4.809599{col 67}{space 3} .6604348
{txt}{space 7}2017  {c |}{col 14}{res}{space 2}-2.331725{col 26}{space 2} 1.372743{col 37}{space 1}   -1.70{col 46}{space 3}0.092{col 54}{space 4}-5.053926{col 67}{space 3} .3904754
{txt}{space 7}2018  {c |}{col 14}{res}{space 2}-2.318058{col 26}{space 2} 1.333405{col 37}{space 1}   -1.74{col 46}{space 3}0.085{col 54}{space 4} -4.96225{col 67}{space 3} .3261341
{txt}{space 7}2021  {c |}{col 14}{res}{space 2}-2.312787{col 26}{space 2} 1.359998{col 37}{space 1}   -1.70{col 46}{space 3}0.092{col 54}{space 4}-5.009713{col 67}{space 3} .3841396
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 4.329251{col 26}{space 2}  2.80004{col 37}{space 1}    1.55{col 46}{space 3}0.125{col 54}{space 4}-1.223333{col 67}{space 3} 9.881836
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} 7.2053808
     {txt}sigma_e {c |} {res} .78001717
         {txt}rho {c |} {res} .98841664{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}31{txt}, {res}104{txt}) = {res}20.69{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. xtcd2, pesaran cdw
Residuals calculated using {it: predict, e} from {it:xtreg}.
{txt}(1,565 missing values generated)
Unbalanced panel detected, test adjusted.
{res}
{txt}Testing for weak cross-sectional dependence (CSD)
{col 4}H0: weak cross-section dependence
{col 4}H1: strong cross-section dependence
{hline 15}{c TT}{hline 28}
{col 16}{c |}  {col 20} CD  {col 34} CDw
{hline 15}{c +}{hline 28}
residuals{col 16}{c |}{res} {col 16}   -0.31 {col 30}   -0.63
{txt}{col 16}{c |}{res} {col 16} (0.755) {col 30} (0.532)
{txt}{hline 15}{c BT}{hline 28}
p-values in parenthesis.
References
  CD: {col 13} Pesaran ({help xtcd2##Pesaran2015:2015}, {help xtcd2##Pesaran2021:2021})
  CDw: {col 13} Juodis, Reese ({help xtcd2##JR2021:2021})

{com}. 
. xtreg bti_cps2 pdevde_1 pstab_1 psave_1  orioil_1 origas_1 orimin_1 orinonc_1 p_polity2_1 bci_bci_1  i.year, fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       478
{txt}Group variable: {res}cowcode{txt}{col 49}Number of groups{col 67}={col 69}{res}        50

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.2330{col 63}{txt}min{col 67}={col 69}{res}         1
{txt}     between = {res}0.1253{col 63}{txt}avg{col 67}={col 69}{res}       9.6
{txt}     overall = {res}0.1728{col 63}{txt}max{col 67}={col 69}{res}        16

{txt}{col 49}F({res}24{txt},{res}404{txt}){col 67}={col 70}{res}     5.11
{txt}corr(u_i, Xb){col 16}= {res}-0.4623{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    bti_cps2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}pdevde_1 {c |}{col 14}{res}{space 2} .0527832{col 26}{space 2} .2828696{col 37}{space 1}    0.19{col 46}{space 3}0.852{col 54}{space 4}-.5032969{col 67}{space 3} .6088633
{txt}{space 5}pstab_1 {c |}{col 14}{res}{space 2}-.4750265{col 26}{space 2} .2768052{col 37}{space 1}   -1.72{col 46}{space 3}0.087{col 54}{space 4}-1.019185{col 67}{space 3} .0691318
{txt}{space 5}psave_1 {c |}{col 14}{res}{space 2}-.8130031{col 26}{space 2} .2466953{col 37}{space 1}   -3.30{col 46}{space 3}0.001{col 54}{space 4} -1.29797{col 67}{space 3}-.3280364
{txt}{space 4}orioil_1 {c |}{col 14}{res}{space 2}-.2933104{col 26}{space 2} .7516137{col 37}{space 1}   -0.39{col 46}{space 3}0.697{col 54}{space 4}-1.770873{col 67}{space 3} 1.184252
{txt}{space 4}origas_1 {c |}{col 14}{res}{space 2}-.9534312{col 26}{space 2} .4450921{col 37}{space 1}   -2.14{col 46}{space 3}0.033{col 54}{space 4}-1.828417{col 67}{space 3}-.0784454
{txt}{space 4}orimin_1 {c |}{col 14}{res}{space 2}  4.48433{col 26}{space 2} .8395597{col 37}{space 1}    5.34{col 46}{space 3}0.000{col 54}{space 4} 2.833879{col 67}{space 3} 6.134781
{txt}{space 3}orinonc_1 {c |}{col 14}{res}{space 2} .3671586{col 26}{space 2} .5052708{col 37}{space 1}    0.73{col 46}{space 3}0.468{col 54}{space 4}-.6261296{col 67}{space 3} 1.360447
{txt}{space 1}p_polity2_1 {c |}{col 14}{res}{space 2} -.026647{col 26}{space 2} .0229627{col 37}{space 1}   -1.16{col 46}{space 3}0.247{col 54}{space 4}-.0717882{col 67}{space 3} .0184943
{txt}{space 3}bci_bci_1 {c |}{col 14}{res}{space 2}-.0329264{col 26}{space 2} .0140153{col 37}{space 1}   -2.35{col 46}{space 3}0.019{col 54}{space 4}-.0604785{col 67}{space 3}-.0053743
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2006  {c |}{col 14}{res}{space 2} .1399375{col 26}{space 2} .1921785{col 37}{space 1}    0.73{col 46}{space 3}0.467{col 54}{space 4}-.2378573{col 67}{space 3} .5177323
{txt}{space 7}2007  {c |}{col 14}{res}{space 2} .1861661{col 26}{space 2} .1775485{col 37}{space 1}    1.05{col 46}{space 3}0.295{col 54}{space 4}-.1628682{col 67}{space 3} .5352004
{txt}{space 7}2008  {c |}{col 14}{res}{space 2}-.0280698{col 26}{space 2} .1859903{col 37}{space 1}   -0.15{col 46}{space 3}0.880{col 54}{space 4}-.3936995{col 67}{space 3} .3375599
{txt}{space 7}2009  {c |}{col 14}{res}{space 2}-.1174805{col 26}{space 2} .1842594{col 37}{space 1}   -0.64{col 46}{space 3}0.524{col 54}{space 4}-.4797075{col 67}{space 3} .2447464
{txt}{space 7}2010  {c |}{col 14}{res}{space 2}-.0230016{col 26}{space 2} .1827046{col 37}{space 1}   -0.13{col 46}{space 3}0.900{col 54}{space 4}-.3821721{col 67}{space 3} .3361689
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} .0385866{col 26}{space 2} .1812158{col 37}{space 1}    0.21{col 46}{space 3}0.831{col 54}{space 4} -.317657{col 67}{space 3} .3948303
{txt}{space 7}2012  {c |}{col 14}{res}{space 2}-.0163585{col 26}{space 2} .1792005{col 37}{space 1}   -0.09{col 46}{space 3}0.927{col 54}{space 4}-.3686403{col 67}{space 3} .3359233
{txt}{space 7}2013  {c |}{col 14}{res}{space 2}-.0525268{col 26}{space 2} .1744479{col 37}{space 1}   -0.30{col 46}{space 3}0.763{col 54}{space 4}-.3954656{col 67}{space 3} .2904121
{txt}{space 7}2014  {c |}{col 14}{res}{space 2}-.2042007{col 26}{space 2} .1732313{col 37}{space 1}   -1.18{col 46}{space 3}0.239{col 54}{space 4} -.544748{col 67}{space 3} .1363466
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} -.296902{col 26}{space 2} .1730568{col 37}{space 1}   -1.72{col 46}{space 3}0.087{col 54}{space 4}-.6371063{col 67}{space 3} .0433024
{txt}{space 7}2016  {c |}{col 14}{res}{space 2}-.3663813{col 26}{space 2} .1733717{col 37}{space 1}   -2.11{col 46}{space 3}0.035{col 54}{space 4}-.7072046{col 67}{space 3} -.025558
{txt}{space 7}2017  {c |}{col 14}{res}{space 2}-.4423174{col 26}{space 2}  .172848{col 37}{space 1}   -2.56{col 46}{space 3}0.011{col 54}{space 4}-.7821112{col 67}{space 3}-.1025236
{txt}{space 7}2018  {c |}{col 14}{res}{space 2}-.4206959{col 26}{space 2}   .17474{col 37}{space 1}   -2.41{col 46}{space 3}0.017{col 54}{space 4}-.7642092{col 67}{space 3}-.0771827
{txt}{space 7}2019  {c |}{col 14}{res}{space 2}-.4643824{col 26}{space 2} .1747614{col 37}{space 1}   -2.66{col 46}{space 3}0.008{col 54}{space 4}-.8079378{col 67}{space 3}-.1208271
{txt}{space 7}2020  {c |}{col 14}{res}{space 2} .4016869{col 26}{space 2} .5743313{col 37}{space 1}    0.70{col 46}{space 3}0.485{col 54}{space 4}-.7273641{col 67}{space 3} 1.530738
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 9.280802{col 26}{space 2} .9428238{col 37}{space 1}    9.84{col 46}{space 3}0.000{col 54}{space 4} 7.427348{col 67}{space 3} 11.13425
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} 1.9599092
     {txt}sigma_e {c |} {res}  .5362638
         {txt}rho {c |} {res} .93034846{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}49{txt}, {res}404{txt}) = {res}51.98{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. testparm i.year

{p 0 7}{space 1}{text:( 1)}{space 1} {res}2006.year = 0{p_end}
{p 0 7}{space 1}{text:( 2)}{space 1} 2007.year = 0{p_end}
{p 0 7}{space 1}{text:( 3)}{space 1} 2008.year = 0{p_end}
{p 0 7}{space 1}{text:( 4)}{space 1} 2009.year = 0{p_end}
{p 0 7}{space 1}{text:( 5)}{space 1} 2010.year = 0{p_end}
{p 0 7}{space 1}{text:( 6)}{space 1} 2011.year = 0{p_end}
{p 0 7}{space 1}{text:( 7)}{space 1} 2012.year = 0{p_end}
{p 0 7}{space 1}{text:( 8)}{space 1} 2013.year = 0{p_end}
{p 0 7}{space 1}{text:( 9)}{space 1} 2014.year = 0{p_end}
{p 0 7}{space 1}{text:(10)}{space 1} 2015.year = 0{p_end}
{p 0 7}{space 1}{text:(11)}{space 1} 2016.year = 0{p_end}
{p 0 7}{space 1}{text:(12)}{space 1} 2017.year = 0{p_end}
{p 0 7}{space 1}{text:(13)}{space 1} 2018.year = 0{p_end}
{p 0 7}{space 1}{text:(14)}{space 1} 2019.year = 0{p_end}
{p 0 7}{space 1}{text:(15)}{space 1} 2020.year = 0{p_end}

{txt}       F( 15,   404) ={res}    3.69
{txt}{col 13}Prob > F ={res}    0.0000
{txt}
{com}. xttest3

{txt}Modified Wald test for groupwise heteroskedasticity
in fixed effect regression model

{res}H0: sigma(i)^2 = sigma^2 for all i

{txt}chi2 (50)  =   {res}61264.46
{txt}Prob>chi2 =    {res}  0.0000

{txt}
{com}. xtserial bti_cps2 pdevde_1 pstab_1 psave_1  orioil_1 origas_1 orimin_1 orinonc_1 p_polity2_1 bci_bci_1  

{txt}Wooldridge test for autocorrelation in panel data
H0: no first-order autocorrelation
{col 5}F(  1,      43) = {res}   362.122
{txt}{col 12}Prob > F = {res}     0.0000
{txt}
{com}. xtreg bti_cps2 pdevde_1 pstab_1 psave_1  orioil_1 origas_1 orimin_1 orinonc_1 p_polity2_1 bci_bci_1  i.year, fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       478
{txt}Group variable: {res}cowcode{txt}{col 49}Number of groups{col 67}={col 69}{res}        50

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.2330{col 63}{txt}min{col 67}={col 69}{res}         1
{txt}     between = {res}0.1253{col 63}{txt}avg{col 67}={col 69}{res}       9.6
{txt}     overall = {res}0.1728{col 63}{txt}max{col 67}={col 69}{res}        16

{txt}{col 49}F({res}24{txt},{res}404{txt}){col 67}={col 70}{res}     5.11
{txt}corr(u_i, Xb){col 16}= {res}-0.4623{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    bti_cps2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}pdevde_1 {c |}{col 14}{res}{space 2} .0527832{col 26}{space 2} .2828696{col 37}{space 1}    0.19{col 46}{space 3}0.852{col 54}{space 4}-.5032969{col 67}{space 3} .6088633
{txt}{space 5}pstab_1 {c |}{col 14}{res}{space 2}-.4750265{col 26}{space 2} .2768052{col 37}{space 1}   -1.72{col 46}{space 3}0.087{col 54}{space 4}-1.019185{col 67}{space 3} .0691318
{txt}{space 5}psave_1 {c |}{col 14}{res}{space 2}-.8130031{col 26}{space 2} .2466953{col 37}{space 1}   -3.30{col 46}{space 3}0.001{col 54}{space 4} -1.29797{col 67}{space 3}-.3280364
{txt}{space 4}orioil_1 {c |}{col 14}{res}{space 2}-.2933104{col 26}{space 2} .7516137{col 37}{space 1}   -0.39{col 46}{space 3}0.697{col 54}{space 4}-1.770873{col 67}{space 3} 1.184252
{txt}{space 4}origas_1 {c |}{col 14}{res}{space 2}-.9534312{col 26}{space 2} .4450921{col 37}{space 1}   -2.14{col 46}{space 3}0.033{col 54}{space 4}-1.828417{col 67}{space 3}-.0784454
{txt}{space 4}orimin_1 {c |}{col 14}{res}{space 2}  4.48433{col 26}{space 2} .8395597{col 37}{space 1}    5.34{col 46}{space 3}0.000{col 54}{space 4} 2.833879{col 67}{space 3} 6.134781
{txt}{space 3}orinonc_1 {c |}{col 14}{res}{space 2} .3671586{col 26}{space 2} .5052708{col 37}{space 1}    0.73{col 46}{space 3}0.468{col 54}{space 4}-.6261296{col 67}{space 3} 1.360447
{txt}{space 1}p_polity2_1 {c |}{col 14}{res}{space 2} -.026647{col 26}{space 2} .0229627{col 37}{space 1}   -1.16{col 46}{space 3}0.247{col 54}{space 4}-.0717882{col 67}{space 3} .0184943
{txt}{space 3}bci_bci_1 {c |}{col 14}{res}{space 2}-.0329264{col 26}{space 2} .0140153{col 37}{space 1}   -2.35{col 46}{space 3}0.019{col 54}{space 4}-.0604785{col 67}{space 3}-.0053743
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2006  {c |}{col 14}{res}{space 2} .1399375{col 26}{space 2} .1921785{col 37}{space 1}    0.73{col 46}{space 3}0.467{col 54}{space 4}-.2378573{col 67}{space 3} .5177323
{txt}{space 7}2007  {c |}{col 14}{res}{space 2} .1861661{col 26}{space 2} .1775485{col 37}{space 1}    1.05{col 46}{space 3}0.295{col 54}{space 4}-.1628682{col 67}{space 3} .5352004
{txt}{space 7}2008  {c |}{col 14}{res}{space 2}-.0280698{col 26}{space 2} .1859903{col 37}{space 1}   -0.15{col 46}{space 3}0.880{col 54}{space 4}-.3936995{col 67}{space 3} .3375599
{txt}{space 7}2009  {c |}{col 14}{res}{space 2}-.1174805{col 26}{space 2} .1842594{col 37}{space 1}   -0.64{col 46}{space 3}0.524{col 54}{space 4}-.4797075{col 67}{space 3} .2447464
{txt}{space 7}2010  {c |}{col 14}{res}{space 2}-.0230016{col 26}{space 2} .1827046{col 37}{space 1}   -0.13{col 46}{space 3}0.900{col 54}{space 4}-.3821721{col 67}{space 3} .3361689
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} .0385866{col 26}{space 2} .1812158{col 37}{space 1}    0.21{col 46}{space 3}0.831{col 54}{space 4} -.317657{col 67}{space 3} .3948303
{txt}{space 7}2012  {c |}{col 14}{res}{space 2}-.0163585{col 26}{space 2} .1792005{col 37}{space 1}   -0.09{col 46}{space 3}0.927{col 54}{space 4}-.3686403{col 67}{space 3} .3359233
{txt}{space 7}2013  {c |}{col 14}{res}{space 2}-.0525268{col 26}{space 2} .1744479{col 37}{space 1}   -0.30{col 46}{space 3}0.763{col 54}{space 4}-.3954656{col 67}{space 3} .2904121
{txt}{space 7}2014  {c |}{col 14}{res}{space 2}-.2042007{col 26}{space 2} .1732313{col 37}{space 1}   -1.18{col 46}{space 3}0.239{col 54}{space 4} -.544748{col 67}{space 3} .1363466
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} -.296902{col 26}{space 2} .1730568{col 37}{space 1}   -1.72{col 46}{space 3}0.087{col 54}{space 4}-.6371063{col 67}{space 3} .0433024
{txt}{space 7}2016  {c |}{col 14}{res}{space 2}-.3663813{col 26}{space 2} .1733717{col 37}{space 1}   -2.11{col 46}{space 3}0.035{col 54}{space 4}-.7072046{col 67}{space 3} -.025558
{txt}{space 7}2017  {c |}{col 14}{res}{space 2}-.4423174{col 26}{space 2}  .172848{col 37}{space 1}   -2.56{col 46}{space 3}0.011{col 54}{space 4}-.7821112{col 67}{space 3}-.1025236
{txt}{space 7}2018  {c |}{col 14}{res}{space 2}-.4206959{col 26}{space 2}   .17474{col 37}{space 1}   -2.41{col 46}{space 3}0.017{col 54}{space 4}-.7642092{col 67}{space 3}-.0771827
{txt}{space 7}2019  {c |}{col 14}{res}{space 2}-.4643824{col 26}{space 2} .1747614{col 37}{space 1}   -2.66{col 46}{space 3}0.008{col 54}{space 4}-.8079378{col 67}{space 3}-.1208271
{txt}{space 7}2020  {c |}{col 14}{res}{space 2} .4016869{col 26}{space 2} .5743313{col 37}{space 1}    0.70{col 46}{space 3}0.485{col 54}{space 4}-.7273641{col 67}{space 3} 1.530738
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 9.280802{col 26}{space 2} .9428238{col 37}{space 1}    9.84{col 46}{space 3}0.000{col 54}{space 4} 7.427348{col 67}{space 3} 11.13425
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} 1.9599092
     {txt}sigma_e {c |} {res}  .5362638
         {txt}rho {c |} {res} .93034846{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}49{txt}, {res}404{txt}) = {res}51.98{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. xtcd2, pesaran cdw
Residuals calculated using {it: predict, e} from {it:xtreg}.
{txt}(1,248 missing values generated)
Unbalanced panel detected, test adjusted.
{res}
{txt}Testing for weak cross-sectional dependence (CSD)
{col 4}H0: weak cross-section dependence
{col 4}H1: strong cross-section dependence
{hline 15}{c TT}{hline 28}
{col 16}{c |}  {col 20} CD  {col 34} CDw
{hline 15}{c +}{hline 28}
residuals{col 16}{c |}{res} {col 16}   -0.55 {col 30}    0.64
{txt}{col 16}{c |}{res} {col 16} (0.584) {col 30} (0.520)
{txt}{hline 15}{c BT}{hline 28}
p-values in parenthesis.
References
  CD: {col 13} Pesaran ({help xtcd2##Pesaran2015:2015}, {help xtcd2##Pesaran2021:2021})
  CDw: {col 13} Juodis, Reese ({help xtcd2##JR2021:2021})

{com}. 
. xtreg bti_eos2 pdevde_1 pstab_1 psave_1  orioil_1 origas_1 orimin_1 orinonc_1 p_polity2_1 bci_bci_1  i.year, fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       478
{txt}Group variable: {res}cowcode{txt}{col 49}Number of groups{col 67}={col 69}{res}        50

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.3850{col 63}{txt}min{col 67}={col 69}{res}         1
{txt}     between = {res}0.2649{col 63}{txt}avg{col 67}={col 69}{res}       9.6
{txt}     overall = {res}0.2780{col 63}{txt}max{col 67}={col 69}{res}        16

{txt}{col 49}F({res}24{txt},{res}404{txt}){col 67}={col 70}{res}    10.54
{txt}corr(u_i, Xb){col 16}= {res}-0.6554{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    bti_eos2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}pdevde_1 {c |}{col 14}{res}{space 2}   .00728{col 26}{space 2}   .40976{col 37}{space 1}    0.02{col 46}{space 3}0.986{col 54}{space 4} -.798248{col 67}{space 3} .8128081
{txt}{space 5}pstab_1 {c |}{col 14}{res}{space 2} .2228026{col 26}{space 2} .4009752{col 37}{space 1}    0.56{col 46}{space 3}0.579{col 54}{space 4}-.5654558{col 67}{space 3} 1.011061
{txt}{space 5}psave_1 {c |}{col 14}{res}{space 2}-.5336578{col 26}{space 2} .3573585{col 37}{space 1}   -1.49{col 46}{space 3}0.136{col 54}{space 4}-1.236172{col 67}{space 3} .1688567
{txt}{space 4}orioil_1 {c |}{col 14}{res}{space 2} .5397986{col 26}{space 2} 1.088775{col 37}{space 1}    0.50{col 46}{space 3}0.620{col 54}{space 4}-1.600573{col 67}{space 3}  2.68017
{txt}{space 4}origas_1 {c |}{col 14}{res}{space 2}-1.430221{col 26}{space 2} .6447528{col 37}{space 1}   -2.22{col 46}{space 3}0.027{col 54}{space 4} -2.69771{col 67}{space 3}-.1627311
{txt}{space 4}orimin_1 {c |}{col 14}{res}{space 2} 4.281816{col 26}{space 2} 1.216172{col 37}{space 1}    3.52{col 46}{space 3}0.000{col 54}{space 4} 1.891001{col 67}{space 3} 6.672632
{txt}{space 3}orinonc_1 {c |}{col 14}{res}{space 2} .3917862{col 26}{space 2} .7319265{col 37}{space 1}    0.54{col 46}{space 3}0.593{col 54}{space 4}-1.047074{col 67}{space 3} 1.830646
{txt}{space 1}p_polity2_1 {c |}{col 14}{res}{space 2}-.1128174{col 26}{space 2} .0332633{col 37}{space 1}   -3.39{col 46}{space 3}0.001{col 54}{space 4}-.1782083{col 67}{space 3}-.0474265
{txt}{space 3}bci_bci_1 {c |}{col 14}{res}{space 2}-.0957917{col 26}{space 2} .0203024{col 37}{space 1}   -4.72{col 46}{space 3}0.000{col 54}{space 4}-.1357032{col 67}{space 3}-.0558802
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2006  {c |}{col 14}{res}{space 2} .3071671{col 26}{space 2} .2783865{col 37}{space 1}    1.10{col 46}{space 3}0.271{col 54}{space 4}   -.2401{col 67}{space 3} .8544342
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}  .459855{col 26}{space 2} .2571937{col 37}{space 1}    1.79{col 46}{space 3}0.075{col 54}{space 4}-.0457501{col 67}{space 3} .9654601
{txt}{space 7}2008  {c |}{col 14}{res}{space 2} .2976951{col 26}{space 2} .2694224{col 37}{space 1}    1.10{col 46}{space 3}0.270{col 54}{space 4}-.2319498{col 67}{space 3} .8273399
{txt}{space 7}2009  {c |}{col 14}{res}{space 2} .0969419{col 26}{space 2}  .266915{col 37}{space 1}    0.36{col 46}{space 3}0.717{col 54}{space 4}-.4277738{col 67}{space 3} .6216575
{txt}{space 7}2010  {c |}{col 14}{res}{space 2}  .092224{col 26}{space 2} .2646628{col 37}{space 1}    0.35{col 46}{space 3}0.728{col 54}{space 4}-.4280642{col 67}{space 3} .6125122
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} .1437306{col 26}{space 2} .2625061{col 37}{space 1}    0.55{col 46}{space 3}0.584{col 54}{space 4}-.3723178{col 67}{space 3}  .659779
{txt}{space 7}2012  {c |}{col 14}{res}{space 2}  .041568{col 26}{space 2} .2595867{col 37}{space 1}    0.16{col 46}{space 3}0.873{col 54}{space 4}-.4687414{col 67}{space 3} .5518773
{txt}{space 7}2013  {c |}{col 14}{res}{space 2}-.0522696{col 26}{space 2} .2527022{col 37}{space 1}   -0.21{col 46}{space 3}0.836{col 54}{space 4} -.549045{col 67}{space 3} .4445057
{txt}{space 7}2014  {c |}{col 14}{res}{space 2}-.3239097{col 26}{space 2} .2509399{col 37}{space 1}   -1.29{col 46}{space 3}0.198{col 54}{space 4}-.8172207{col 67}{space 3} .1694012
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} -.584428{col 26}{space 2} .2506871{col 37}{space 1}   -2.33{col 46}{space 3}0.020{col 54}{space 4}-1.077242{col 67}{space 3}-.0916139
{txt}{space 7}2016  {c |}{col 14}{res}{space 2}-.8461058{col 26}{space 2} .2511432{col 37}{space 1}   -3.37{col 46}{space 3}0.001{col 54}{space 4}-1.339817{col 67}{space 3}-.3523951
{txt}{space 7}2017  {c |}{col 14}{res}{space 2}-1.115907{col 26}{space 2} .2503846{col 37}{space 1}   -4.46{col 46}{space 3}0.000{col 54}{space 4}-1.608127{col 67}{space 3}-.6236879
{txt}{space 7}2018  {c |}{col 14}{res}{space 2}-1.006861{col 26}{space 2} .2531254{col 37}{space 1}   -3.98{col 46}{space 3}0.000{col 54}{space 4}-1.504469{col 67}{space 3}-.5092539
{txt}{space 7}2019  {c |}{col 14}{res}{space 2}-.9601282{col 26}{space 2} .2531564{col 37}{space 1}   -3.79{col 46}{space 3}0.000{col 54}{space 4}-1.457797{col 67}{space 3}-.4624599
{txt}{space 7}2020  {c |}{col 14}{res}{space 2}-.7184522{col 26}{space 2} .8319664{col 37}{space 1}   -0.86{col 46}{space 3}0.388{col 54}{space 4}-2.353976{col 67}{space 3} .9170717
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 11.76013{col 26}{space 2} 1.365758{col 37}{space 1}    8.61{col 46}{space 3}0.000{col 54}{space 4} 9.075245{col 67}{space 3} 14.44501
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} 2.0101514
     {txt}sigma_e {c |} {res} .77682251
         {txt}rho {c |} {res} .87006198{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}49{txt}, {res}404{txt}) = {res}21.33{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. testparm i.year

{p 0 7}{space 1}{text:( 1)}{space 1} {res}2006.year = 0{p_end}
{p 0 7}{space 1}{text:( 2)}{space 1} 2007.year = 0{p_end}
{p 0 7}{space 1}{text:( 3)}{space 1} 2008.year = 0{p_end}
{p 0 7}{space 1}{text:( 4)}{space 1} 2009.year = 0{p_end}
{p 0 7}{space 1}{text:( 5)}{space 1} 2010.year = 0{p_end}
{p 0 7}{space 1}{text:( 6)}{space 1} 2011.year = 0{p_end}
{p 0 7}{space 1}{text:( 7)}{space 1} 2012.year = 0{p_end}
{p 0 7}{space 1}{text:( 8)}{space 1} 2013.year = 0{p_end}
{p 0 7}{space 1}{text:( 9)}{space 1} 2014.year = 0{p_end}
{p 0 7}{space 1}{text:(10)}{space 1} 2015.year = 0{p_end}
{p 0 7}{space 1}{text:(11)}{space 1} 2016.year = 0{p_end}
{p 0 7}{space 1}{text:(12)}{space 1} 2017.year = 0{p_end}
{p 0 7}{space 1}{text:(13)}{space 1} 2018.year = 0{p_end}
{p 0 7}{space 1}{text:(14)}{space 1} 2019.year = 0{p_end}
{p 0 7}{space 1}{text:(15)}{space 1} 2020.year = 0{p_end}

{txt}       F( 15,   404) ={res}   11.20
{txt}{col 13}Prob > F ={res}    0.0000
{txt}
{com}. xttest3

{txt}Modified Wald test for groupwise heteroskedasticity
in fixed effect regression model

{res}H0: sigma(i)^2 = sigma^2 for all i

{txt}chi2 (50)  =   {res}54479.53
{txt}Prob>chi2 =    {res}  0.0000

{txt}
{com}. xtserial bti_eos2 pdevde_1 pstab_1 psave_1  orioil_1 origas_1 orimin_1 orinonc_1 p_polity2_1 bci_bci_1 

{txt}Wooldridge test for autocorrelation in panel data
H0: no first-order autocorrelation
{col 5}F(  1,      43) = {res}   645.325
{txt}{col 12}Prob > F = {res}     0.0000
{txt}
{com}. xtreg bti_eos2 pdevde_1 pstab_1 psave_1  orioil_1 origas_1 orimin_1 orinonc_1 p_polity2_1 bci_bci_1  i.year, fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       478
{txt}Group variable: {res}cowcode{txt}{col 49}Number of groups{col 67}={col 69}{res}        50

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.3850{col 63}{txt}min{col 67}={col 69}{res}         1
{txt}     between = {res}0.2649{col 63}{txt}avg{col 67}={col 69}{res}       9.6
{txt}     overall = {res}0.2780{col 63}{txt}max{col 67}={col 69}{res}        16

{txt}{col 49}F({res}24{txt},{res}404{txt}){col 67}={col 70}{res}    10.54
{txt}corr(u_i, Xb){col 16}= {res}-0.6554{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    bti_eos2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}pdevde_1 {c |}{col 14}{res}{space 2}   .00728{col 26}{space 2}   .40976{col 37}{space 1}    0.02{col 46}{space 3}0.986{col 54}{space 4} -.798248{col 67}{space 3} .8128081
{txt}{space 5}pstab_1 {c |}{col 14}{res}{space 2} .2228026{col 26}{space 2} .4009752{col 37}{space 1}    0.56{col 46}{space 3}0.579{col 54}{space 4}-.5654558{col 67}{space 3} 1.011061
{txt}{space 5}psave_1 {c |}{col 14}{res}{space 2}-.5336578{col 26}{space 2} .3573585{col 37}{space 1}   -1.49{col 46}{space 3}0.136{col 54}{space 4}-1.236172{col 67}{space 3} .1688567
{txt}{space 4}orioil_1 {c |}{col 14}{res}{space 2} .5397986{col 26}{space 2} 1.088775{col 37}{space 1}    0.50{col 46}{space 3}0.620{col 54}{space 4}-1.600573{col 67}{space 3}  2.68017
{txt}{space 4}origas_1 {c |}{col 14}{res}{space 2}-1.430221{col 26}{space 2} .6447528{col 37}{space 1}   -2.22{col 46}{space 3}0.027{col 54}{space 4} -2.69771{col 67}{space 3}-.1627311
{txt}{space 4}orimin_1 {c |}{col 14}{res}{space 2} 4.281816{col 26}{space 2} 1.216172{col 37}{space 1}    3.52{col 46}{space 3}0.000{col 54}{space 4} 1.891001{col 67}{space 3} 6.672632
{txt}{space 3}orinonc_1 {c |}{col 14}{res}{space 2} .3917862{col 26}{space 2} .7319265{col 37}{space 1}    0.54{col 46}{space 3}0.593{col 54}{space 4}-1.047074{col 67}{space 3} 1.830646
{txt}{space 1}p_polity2_1 {c |}{col 14}{res}{space 2}-.1128174{col 26}{space 2} .0332633{col 37}{space 1}   -3.39{col 46}{space 3}0.001{col 54}{space 4}-.1782083{col 67}{space 3}-.0474265
{txt}{space 3}bci_bci_1 {c |}{col 14}{res}{space 2}-.0957917{col 26}{space 2} .0203024{col 37}{space 1}   -4.72{col 46}{space 3}0.000{col 54}{space 4}-.1357032{col 67}{space 3}-.0558802
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2006  {c |}{col 14}{res}{space 2} .3071671{col 26}{space 2} .2783865{col 37}{space 1}    1.10{col 46}{space 3}0.271{col 54}{space 4}   -.2401{col 67}{space 3} .8544342
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}  .459855{col 26}{space 2} .2571937{col 37}{space 1}    1.79{col 46}{space 3}0.075{col 54}{space 4}-.0457501{col 67}{space 3} .9654601
{txt}{space 7}2008  {c |}{col 14}{res}{space 2} .2976951{col 26}{space 2} .2694224{col 37}{space 1}    1.10{col 46}{space 3}0.270{col 54}{space 4}-.2319498{col 67}{space 3} .8273399
{txt}{space 7}2009  {c |}{col 14}{res}{space 2} .0969419{col 26}{space 2}  .266915{col 37}{space 1}    0.36{col 46}{space 3}0.717{col 54}{space 4}-.4277738{col 67}{space 3} .6216575
{txt}{space 7}2010  {c |}{col 14}{res}{space 2}  .092224{col 26}{space 2} .2646628{col 37}{space 1}    0.35{col 46}{space 3}0.728{col 54}{space 4}-.4280642{col 67}{space 3} .6125122
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} .1437306{col 26}{space 2} .2625061{col 37}{space 1}    0.55{col 46}{space 3}0.584{col 54}{space 4}-.3723178{col 67}{space 3}  .659779
{txt}{space 7}2012  {c |}{col 14}{res}{space 2}  .041568{col 26}{space 2} .2595867{col 37}{space 1}    0.16{col 46}{space 3}0.873{col 54}{space 4}-.4687414{col 67}{space 3} .5518773
{txt}{space 7}2013  {c |}{col 14}{res}{space 2}-.0522696{col 26}{space 2} .2527022{col 37}{space 1}   -0.21{col 46}{space 3}0.836{col 54}{space 4} -.549045{col 67}{space 3} .4445057
{txt}{space 7}2014  {c |}{col 14}{res}{space 2}-.3239097{col 26}{space 2} .2509399{col 37}{space 1}   -1.29{col 46}{space 3}0.198{col 54}{space 4}-.8172207{col 67}{space 3} .1694012
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} -.584428{col 26}{space 2} .2506871{col 37}{space 1}   -2.33{col 46}{space 3}0.020{col 54}{space 4}-1.077242{col 67}{space 3}-.0916139
{txt}{space 7}2016  {c |}{col 14}{res}{space 2}-.8461058{col 26}{space 2} .2511432{col 37}{space 1}   -3.37{col 46}{space 3}0.001{col 54}{space 4}-1.339817{col 67}{space 3}-.3523951
{txt}{space 7}2017  {c |}{col 14}{res}{space 2}-1.115907{col 26}{space 2} .2503846{col 37}{space 1}   -4.46{col 46}{space 3}0.000{col 54}{space 4}-1.608127{col 67}{space 3}-.6236879
{txt}{space 7}2018  {c |}{col 14}{res}{space 2}-1.006861{col 26}{space 2} .2531254{col 37}{space 1}   -3.98{col 46}{space 3}0.000{col 54}{space 4}-1.504469{col 67}{space 3}-.5092539
{txt}{space 7}2019  {c |}{col 14}{res}{space 2}-.9601282{col 26}{space 2} .2531564{col 37}{space 1}   -3.79{col 46}{space 3}0.000{col 54}{space 4}-1.457797{col 67}{space 3}-.4624599
{txt}{space 7}2020  {c |}{col 14}{res}{space 2}-.7184522{col 26}{space 2} .8319664{col 37}{space 1}   -0.86{col 46}{space 3}0.388{col 54}{space 4}-2.353976{col 67}{space 3} .9170717
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 11.76013{col 26}{space 2} 1.365758{col 37}{space 1}    8.61{col 46}{space 3}0.000{col 54}{space 4} 9.075245{col 67}{space 3} 14.44501
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} 2.0101514
     {txt}sigma_e {c |} {res} .77682251
         {txt}rho {c |} {res} .87006198{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}49{txt}, {res}404{txt}) = {res}21.33{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. xtcd2, pesaran cdw
Residuals calculated using {it: predict, e} from {it:xtreg}.
{txt}(1,248 missing values generated)
Unbalanced panel detected, test adjusted.
{res}
{txt}Testing for weak cross-sectional dependence (CSD)
{col 4}H0: weak cross-section dependence
{col 4}H1: strong cross-section dependence
{hline 15}{c TT}{hline 28}
{col 16}{c |}  {col 20} CD  {col 34} CDw
{hline 15}{c +}{hline 28}
residuals{col 16}{c |}{res} {col 16}   -1.01 {col 30}    1.08
{txt}{col 16}{c |}{res} {col 16} (0.314) {col 30} (0.279)
{txt}{hline 15}{c BT}{hline 28}
p-values in parenthesis.
References
  CD: {col 13} Pesaran ({help xtcd2##Pesaran2015:2015}, {help xtcd2##Pesaran2021:2021})
  CDw: {col 13} Juodis, Reese ({help xtcd2##JR2021:2021})

{com}. 
. 
. xtreg gpcr_eci pdevde_1 pstab_1 psave_1  orioil_1 origas_1 orimin_1 orinonc_1 p_polity2_1 bci_bci_1  i.year, fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       832
{txt}Group variable: {res}cowcode{txt}{col 49}Number of groups{col 67}={col 69}{res}        58

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.1362{col 63}{txt}min{col 67}={col 69}{res}         1
{txt}     between = {res}0.2596{col 63}{txt}avg{col 67}={col 69}{res}      14.3
{txt}     overall = {res}0.2779{col 63}{txt}max{col 67}={col 69}{res}        27

{txt}{col 49}F({res}35{txt},{res}739{txt}){col 67}={col 70}{res}     3.33
{txt}corr(u_i, Xb){col 16}= {res}0.1295{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    gpcr_eci{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}pdevde_1 {c |}{col 14}{res}{space 2}-.1777429{col 26}{space 2} .0656409{col 37}{space 1}   -2.71{col 46}{space 3}0.007{col 54}{space 4}-.3066077{col 67}{space 3}-.0488781
{txt}{space 5}pstab_1 {c |}{col 14}{res}{space 2}-.1883711{col 26}{space 2} .0859462{col 37}{space 1}   -2.19{col 46}{space 3}0.029{col 54}{space 4}-.3570989{col 67}{space 3}-.0196433
{txt}{space 5}psave_1 {c |}{col 14}{res}{space 2} .1332223{col 26}{space 2} .0715364{col 37}{space 1}    1.86{col 46}{space 3}0.063{col 54}{space 4}-.0072165{col 67}{space 3} .2736611
{txt}{space 4}orioil_1 {c |}{col 14}{res}{space 2}-.5613401{col 26}{space 2} .1385929{col 37}{space 1}   -4.05{col 46}{space 3}0.000{col 54}{space 4}-.8334228{col 67}{space 3}-.2892574
{txt}{space 4}origas_1 {c |}{col 14}{res}{space 2}-.3174706{col 26}{space 2}  .155176{col 37}{space 1}   -2.05{col 46}{space 3}0.041{col 54}{space 4}-.6221089{col 67}{space 3}-.0128322
{txt}{space 4}orimin_1 {c |}{col 14}{res}{space 2} .0636658{col 26}{space 2} .1935386{col 37}{space 1}    0.33{col 46}{space 3}0.742{col 54}{space 4}-.3162852{col 67}{space 3} .4436168
{txt}{space 3}orinonc_1 {c |}{col 14}{res}{space 2}-.3742353{col 26}{space 2} .1693326{col 37}{space 1}   -2.21{col 46}{space 3}0.027{col 54}{space 4}-.7066655{col 67}{space 3} -.041805
{txt}{space 1}p_polity2_1 {c |}{col 14}{res}{space 2}  .017832{col 26}{space 2} .0069724{col 37}{space 1}    2.56{col 46}{space 3}0.011{col 54}{space 4}  .004144{col 67}{space 3}   .03152
{txt}{space 3}bci_bci_1 {c |}{col 14}{res}{space 2}  -.00616{col 26}{space 2} .0051174{col 37}{space 1}   -1.20{col 46}{space 3}0.229{col 54}{space 4}-.0162063{col 67}{space 3} .0038863
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}1996  {c |}{col 14}{res}{space 2}-.0355714{col 26}{space 2} .0972944{col 37}{space 1}   -0.37{col 46}{space 3}0.715{col 54}{space 4}-.2265777{col 67}{space 3}  .155435
{txt}{space 7}1997  {c |}{col 14}{res}{space 2} -.087828{col 26}{space 2} .0974146{col 37}{space 1}   -0.90{col 46}{space 3}0.368{col 54}{space 4}-.2790703{col 67}{space 3} .1034142
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-.0155998{col 26}{space 2} .0976124{col 37}{space 1}   -0.16{col 46}{space 3}0.873{col 54}{space 4}-.2072305{col 67}{space 3} .1760309
{txt}{space 7}1999  {c |}{col 14}{res}{space 2} .0352745{col 26}{space 2} .0940373{col 37}{space 1}    0.38{col 46}{space 3}0.708{col 54}{space 4}-.1493375{col 67}{space 3} .2198866
{txt}{space 7}2000  {c |}{col 14}{res}{space 2}-.0089136{col 26}{space 2} .0914956{col 37}{space 1}   -0.10{col 46}{space 3}0.922{col 54}{space 4}-.1885359{col 67}{space 3} .1707088
{txt}{space 7}2001  {c |}{col 14}{res}{space 2}-.0278936{col 26}{space 2} .0882457{col 37}{space 1}   -0.32{col 46}{space 3}0.752{col 54}{space 4}-.2011358{col 67}{space 3} .1453486
{txt}{space 7}2002  {c |}{col 14}{res}{space 2} .0218091{col 26}{space 2} .0876585{col 37}{space 1}    0.25{col 46}{space 3}0.804{col 54}{space 4}-.1502802{col 67}{space 3} .1938985
{txt}{space 7}2003  {c |}{col 14}{res}{space 2} .0119318{col 26}{space 2} .0879358{col 37}{space 1}    0.14{col 46}{space 3}0.892{col 54}{space 4}-.1607019{col 67}{space 3} .1845654
{txt}{space 7}2004  {c |}{col 14}{res}{space 2} .0240174{col 26}{space 2} .0877755{col 37}{space 1}    0.27{col 46}{space 3}0.784{col 54}{space 4}-.1483016{col 67}{space 3} .1963364
{txt}{space 7}2005  {c |}{col 14}{res}{space 2} .0216057{col 26}{space 2}   .08825{col 37}{space 1}    0.24{col 46}{space 3}0.807{col 54}{space 4}-.1516449{col 67}{space 3} .1948563
{txt}{space 7}2006  {c |}{col 14}{res}{space 2}-.1042206{col 26}{space 2} .0879007{col 37}{space 1}   -1.19{col 46}{space 3}0.236{col 54}{space 4}-.2767855{col 67}{space 3} .0683443
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}-.1903131{col 26}{space 2} .0864767{col 37}{space 1}   -2.20{col 46}{space 3}0.028{col 54}{space 4}-.3600824{col 67}{space 3}-.0205438
{txt}{space 7}2008  {c |}{col 14}{res}{space 2}-.2562656{col 26}{space 2} .0864162{col 37}{space 1}   -2.97{col 46}{space 3}0.003{col 54}{space 4}-.4259162{col 67}{space 3}-.0866151
{txt}{space 7}2009  {c |}{col 14}{res}{space 2}-.1569658{col 26}{space 2} .0865694{col 37}{space 1}   -1.81{col 46}{space 3}0.070{col 54}{space 4}-.3269171{col 67}{space 3} .0129854
{txt}{space 7}2010  {c |}{col 14}{res}{space 2}-.0666733{col 26}{space 2} .0862663{col 37}{space 1}   -0.77{col 46}{space 3}0.440{col 54}{space 4}-.2360295{col 67}{space 3} .1026829
{txt}{space 7}2011  {c |}{col 14}{res}{space 2}-.2277416{col 26}{space 2} .0859723{col 37}{space 1}   -2.65{col 46}{space 3}0.008{col 54}{space 4}-.3965206{col 67}{space 3}-.0589625
{txt}{space 7}2012  {c |}{col 14}{res}{space 2}-.2159188{col 26}{space 2} .0853815{col 37}{space 1}   -2.53{col 46}{space 3}0.012{col 54}{space 4}-.3835379{col 67}{space 3}-.0482997
{txt}{space 7}2013  {c |}{col 14}{res}{space 2}-.1577085{col 26}{space 2} .0841423{col 37}{space 1}   -1.87{col 46}{space 3}0.061{col 54}{space 4} -.322895{col 67}{space 3}  .007478
{txt}{space 7}2014  {c |}{col 14}{res}{space 2}-.1531306{col 26}{space 2} .0843805{col 37}{space 1}   -1.81{col 46}{space 3}0.070{col 54}{space 4}-.3187846{col 67}{space 3} .0125234
{txt}{space 7}2015  {c |}{col 14}{res}{space 2}-.0954539{col 26}{space 2} .0838004{col 37}{space 1}   -1.14{col 46}{space 3}0.255{col 54}{space 4}-.2599691{col 67}{space 3} .0690613
{txt}{space 7}2016  {c |}{col 14}{res}{space 2}-.0806032{col 26}{space 2} .0840833{col 37}{space 1}   -0.96{col 46}{space 3}0.338{col 54}{space 4}-.2456738{col 67}{space 3} .0844673
{txt}{space 7}2017  {c |}{col 14}{res}{space 2}-.0875691{col 26}{space 2} .0838947{col 37}{space 1}   -1.04{col 46}{space 3}0.297{col 54}{space 4}-.2522694{col 67}{space 3} .0771312
{txt}{space 7}2018  {c |}{col 14}{res}{space 2}-.0890559{col 26}{space 2} .0839265{col 37}{space 1}   -1.06{col 46}{space 3}0.289{col 54}{space 4}-.2538187{col 67}{space 3}  .075707
{txt}{space 7}2019  {c |}{col 14}{res}{space 2}-.0422381{col 26}{space 2} .0843012{col 37}{space 1}   -0.50{col 46}{space 3}0.616{col 54}{space 4}-.2077365{col 67}{space 3} .1232603
{txt}{space 7}2020  {c |}{col 14}{res}{space 2} .0162587{col 26}{space 2} .2010994{col 37}{space 1}    0.08{col 46}{space 3}0.936{col 54}{space 4}-.3785353{col 67}{space 3} .4110528
{txt}{space 7}2021  {c |}{col 14}{res}{space 2}-.2511623{col 26}{space 2} .2747185{col 37}{space 1}   -0.91{col 46}{space 3}0.361{col 54}{space 4}-.7904841{col 67}{space 3} .2881595
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} .9197904{col 26}{space 2} .2725332{col 37}{space 1}    3.37{col 46}{space 3}0.001{col 54}{space 4} .3847589{col 67}{space 3} 1.454822
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} .95389184
     {txt}sigma_e {c |} {res} .25732291
         {txt}rho {c |} {res} .93216535{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}57{txt}, {res}739{txt}) = {res}86.70{col 62}{txt}Prob > F = {res}0.0000
{txt}
{com}. testparm i.year

{p 0 7}{space 1}{text:( 1)}{space 1} {res}1996.year = 0{p_end}
{p 0 7}{space 1}{text:( 2)}{space 1} 1997.year = 0{p_end}
{p 0 7}{space 1}{text:( 3)}{space 1} 1998.year = 0{p_end}
{p 0 7}{space 1}{text:( 4)}{space 1} 1999.year = 0{p_end}
{p 0 7}{space 1}{text:( 5)}{space 1} 2000.year = 0{p_end}
{p 0 7}{space 1}{text:( 6)}{space 1} 2001.year = 0{p_end}
{p 0 7}{space 1}{text:( 7)}{space 1} 2002.year = 0{p_end}
{p 0 7}{space 1}{text:( 8)}{space 1} 2003.year = 0{p_end}
{p 0 7}{space 1}{text:( 9)}{space 1} 2004.year = 0{p_end}
{p 0 7}{space 1}{text:(10)}{space 1} 2005.year = 0{p_end}
{p 0 7}{space 1}{text:(11)}{space 1} 2006.year = 0{p_end}
{p 0 7}{space 1}{text:(12)}{space 1} 2007.year = 0{p_end}
{p 0 7}{space 1}{text:(13)}{space 1} 2008.year = 0{p_end}
{p 0 7}{space 1}{text:(14)}{space 1} 2009.year = 0{p_end}
{p 0 7}{space 1}{text:(15)}{space 1} 2010.year = 0{p_end}
{p 0 7}{space 1}{text:(16)}{space 1} 2011.year = 0{p_end}
{p 0 7}{space 1}{text:(17)}{space 1} 2012.year = 0{p_end}
{p 0 7}{space 1}{text:(18)}{space 1} 2013.year = 0{p_end}
{p 0 7}{space 1}{text:(19)}{space 1} 2014.year = 0{p_end}
{p 0 7}{space 1}{text:(20)}{space 1} 2015.year = 0{p_end}
{p 0 7}{space 1}{text:(21)}{space 1} 2016.year = 0{p_end}
{p 0 7}{space 1}{text:(22)}{space 1} 2017.year = 0{p_end}
{p 0 7}{space 1}{text:(23)}{space 1} 2018.year = 0{p_end}
{p 0 7}{space 1}{text:(24)}{space 1} 2019.year = 0{p_end}
{p 0 7}{space 1}{text:(25)}{space 1} 2020.year = 0{p_end}
{p 0 7}{space 1}{text:(26)}{space 1} 2021.year = 0{p_end}

{txt}       F( 26,   739) ={res}    2.61
{txt}{col 13}Prob > F ={res}    0.0000
{txt}
{com}. xttest3

{txt}Modified Wald test for groupwise heteroskedasticity
in fixed effect regression model

{res}H0: sigma(i)^2 = sigma^2 for all i

{txt}chi2 (58)  =   {res} 2.6e+31
{txt}Prob>chi2 =    {res}  0.0000

{txt}
{com}. xtserial gpcr_eci gpcr_eci_1 pdevde_1 pstab_1 psave_1  orioil_1 origas_1 orimin_1 orinonc_1 p_polity2_1 bci_bci_1

{txt}Wooldridge test for autocorrelation in panel data
H0: no first-order autocorrelation
{col 5}F(  1,      54) = {res}   112.626
{txt}{col 12}Prob > F = {res}     0.0000
{txt}
{com}. xtreg gpcr_eci pdevde_1 pstab_1 psave_1  orioil_1 origas_1 orimin_1 orinonc_1 p_polity2_1 bci_bci_1  i.year, re
{res}
{txt}Random-effects GLS regression                   Number of obs     = {res}       832
{txt}Group variable: {res}cowcode                         {txt}Number of groups  = {res}        58

{txt}R-sq:                                           Obs per group:
     within  = {res}0.1187                                         {txt}min = {res}         1
{txt}     between = {res}0.5370                                         {txt}avg = {res}      14.3
{txt}     overall = {res}0.5012                                         {txt}max = {res}        27

                                                {txt}Wald chi2({res}35{txt})     =  {res}   192.33
{txt}corr(u_i, X)   = {res}0{txt} (assumed)                    Prob > chi2       =     {res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    gpcr_eci{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}pdevde_1 {c |}{col 14}{res}{space 2}-.2265363{col 26}{space 2} .0623526{col 37}{space 1}   -3.63{col 46}{space 3}0.000{col 54}{space 4}-.3487451{col 67}{space 3}-.1043275
{txt}{space 5}pstab_1 {c |}{col 14}{res}{space 2} -.196343{col 26}{space 2} .0785524{col 37}{space 1}   -2.50{col 46}{space 3}0.012{col 54}{space 4}-.3503029{col 67}{space 3}-.0423832
{txt}{space 5}psave_1 {c |}{col 14}{res}{space 2}  .065377{col 26}{space 2} .0684229{col 37}{space 1}    0.96{col 46}{space 3}0.339{col 54}{space 4}-.0687294{col 67}{space 3} .1994834
{txt}{space 4}orioil_1 {c |}{col 14}{res}{space 2}-.4551372{col 26}{space 2} .1201669{col 37}{space 1}   -3.79{col 46}{space 3}0.000{col 54}{space 4}-.6906601{col 67}{space 3}-.2196144
{txt}{space 4}origas_1 {c |}{col 14}{res}{space 2}-.2009207{col 26}{space 2} .1179906{col 37}{space 1}   -1.70{col 46}{space 3}0.089{col 54}{space 4} -.432178{col 67}{space 3} .0303367
{txt}{space 4}orimin_1 {c |}{col 14}{res}{space 2} .0408721{col 26}{space 2} .1454438{col 37}{space 1}    0.28{col 46}{space 3}0.779{col 54}{space 4}-.2441925{col 67}{space 3} .3259367
{txt}{space 3}orinonc_1 {c |}{col 14}{res}{space 2}-.0118226{col 26}{space 2} .1374404{col 37}{space 1}   -0.09{col 46}{space 3}0.931{col 54}{space 4}-.2812009{col 67}{space 3} .2575556
{txt}{space 1}p_polity2_1 {c |}{col 14}{res}{space 2} .0185972{col 26}{space 2}  .006281{col 37}{space 1}    2.96{col 46}{space 3}0.003{col 54}{space 4} .0062868{col 67}{space 3} .0309077
{txt}{space 3}bci_bci_1 {c |}{col 14}{res}{space 2}-.0199488{col 26}{space 2} .0031443{col 37}{space 1}   -6.34{col 46}{space 3}0.000{col 54}{space 4}-.0261115{col 67}{space 3} -.013786
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}1996  {c |}{col 14}{res}{space 2}-.0423845{col 26}{space 2} .1004886{col 37}{space 1}   -0.42{col 46}{space 3}0.673{col 54}{space 4}-.2393386{col 67}{space 3} .1545695
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-.0977654{col 26}{space 2} .1005477{col 37}{space 1}   -0.97{col 46}{space 3}0.331{col 54}{space 4}-.2948352{col 67}{space 3} .0993044
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-.0374883{col 26}{space 2} .1006468{col 37}{space 1}   -0.37{col 46}{space 3}0.710{col 54}{space 4}-.2347525{col 67}{space 3} .1597759
{txt}{space 7}1999  {c |}{col 14}{res}{space 2} .0025341{col 26}{space 2} .0965789{col 37}{space 1}    0.03{col 46}{space 3}0.979{col 54}{space 4} -.186757{col 67}{space 3} .1918253
{txt}{space 7}2000  {c |}{col 14}{res}{space 2}-.0440882{col 26}{space 2} .0937141{col 37}{space 1}   -0.47{col 46}{space 3}0.638{col 54}{space 4}-.2277645{col 67}{space 3}  .139588
{txt}{space 7}2001  {c |}{col 14}{res}{space 2}-.0653539{col 26}{space 2} .0901385{col 37}{space 1}   -0.73{col 46}{space 3}0.468{col 54}{space 4}-.2420222{col 67}{space 3} .1113144
{txt}{space 7}2002  {c |}{col 14}{res}{space 2}-.0209006{col 26}{space 2} .0895227{col 37}{space 1}   -0.23{col 46}{space 3}0.815{col 54}{space 4}-.1963618{col 67}{space 3} .1545607
{txt}{space 7}2003  {c |}{col 14}{res}{space 2}-.0388411{col 26}{space 2} .0896183{col 37}{space 1}   -0.43{col 46}{space 3}0.665{col 54}{space 4}-.2144898{col 67}{space 3} .1368077
{txt}{space 7}2004  {c |}{col 14}{res}{space 2}-.0278861{col 26}{space 2} .0891321{col 37}{space 1}   -0.31{col 46}{space 3}0.754{col 54}{space 4}-.2025817{col 67}{space 3} .1468095
{txt}{space 7}2005  {c |}{col 14}{res}{space 2}-.0361227{col 26}{space 2} .0894172{col 37}{space 1}   -0.40{col 46}{space 3}0.686{col 54}{space 4}-.2113773{col 67}{space 3} .1391318
{txt}{space 7}2006  {c |}{col 14}{res}{space 2}-.1656707{col 26}{space 2} .0889609{col 37}{space 1}   -1.86{col 46}{space 3}0.063{col 54}{space 4}-.3400309{col 67}{space 3} .0086895
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}-.2599238{col 26}{space 2} .0869206{col 37}{space 1}   -2.99{col 46}{space 3}0.003{col 54}{space 4} -.430285{col 67}{space 3}-.0895626
{txt}{space 7}2008  {c |}{col 14}{res}{space 2}-.3271926{col 26}{space 2} .0867731{col 37}{space 1}   -3.77{col 46}{space 3}0.000{col 54}{space 4}-.4972647{col 67}{space 3}-.1571205
{txt}{space 7}2009  {c |}{col 14}{res}{space 2}-.2381072{col 26}{space 2} .0866525{col 37}{space 1}   -2.75{col 46}{space 3}0.006{col 54}{space 4}-.4079429{col 67}{space 3}-.0682715
{txt}{space 7}2010  {c |}{col 14}{res}{space 2}-.1383982{col 26}{space 2} .0863755{col 37}{space 1}   -1.60{col 46}{space 3}0.109{col 54}{space 4} -.307691{col 67}{space 3} .0308946
{txt}{space 7}2011  {c |}{col 14}{res}{space 2}-.3007414{col 26}{space 2} .0859271{col 37}{space 1}   -3.50{col 46}{space 3}0.000{col 54}{space 4}-.4691553{col 67}{space 3}-.1323274
{txt}{space 7}2012  {c |}{col 14}{res}{space 2}-.2892259{col 26}{space 2} .0852268{col 37}{space 1}   -3.39{col 46}{space 3}0.001{col 54}{space 4}-.4562673{col 67}{space 3}-.1221844
{txt}{space 7}2013  {c |}{col 14}{res}{space 2}-.2244026{col 26}{space 2} .0840197{col 37}{space 1}   -2.67{col 46}{space 3}0.008{col 54}{space 4}-.3890781{col 67}{space 3}-.0597271
{txt}{space 7}2014  {c |}{col 14}{res}{space 2}-.2204557{col 26}{space 2} .0842266{col 37}{space 1}   -2.62{col 46}{space 3}0.009{col 54}{space 4}-.3855369{col 67}{space 3}-.0553746
{txt}{space 7}2015  {c |}{col 14}{res}{space 2}-.1637855{col 26}{space 2} .0835367{col 37}{space 1}   -1.96{col 46}{space 3}0.050{col 54}{space 4}-.3275143{col 67}{space 3}-.0000566
{txt}{space 7}2016  {c |}{col 14}{res}{space 2}-.1493384{col 26}{space 2}  .083688{col 37}{space 1}   -1.78{col 46}{space 3}0.074{col 54}{space 4} -.313364{col 67}{space 3} .0146872
{txt}{space 7}2017  {c |}{col 14}{res}{space 2}-.1565626{col 26}{space 2} .0833914{col 37}{space 1}   -1.88{col 46}{space 3}0.060{col 54}{space 4}-.3200068{col 67}{space 3} .0068816
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} -.157844{col 26}{space 2} .0833667{col 37}{space 1}   -1.89{col 46}{space 3}0.058{col 54}{space 4}-.3212398{col 67}{space 3} .0055517
{txt}{space 7}2019  {c |}{col 14}{res}{space 2}-.1091355{col 26}{space 2} .0835445{col 37}{space 1}   -1.31{col 46}{space 3}0.191{col 54}{space 4}-.2728796{col 67}{space 3} .0546087
{txt}{space 7}2020  {c |}{col 14}{res}{space 2}-.0780218{col 26}{space 2} .2054567{col 37}{space 1}   -0.38{col 46}{space 3}0.704{col 54}{space 4}-.4807096{col 67}{space 3}  .324666
{txt}{space 7}2021  {c |}{col 14}{res}{space 2}-.3192511{col 26}{space 2}  .281981{col 37}{space 1}   -1.13{col 46}{space 3}0.258{col 54}{space 4}-.8719237{col 67}{space 3} .2334215
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 1.321479{col 26}{space 2} .2208034{col 37}{space 1}    5.98{col 46}{space 3}0.000{col 54}{space 4} .8887126{col 67}{space 3} 1.754246
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res}  .5785568
     {txt}sigma_e {c |} {res} .25732291
         {txt}rho {c |} {res} .83485166{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}

{com}. xtcd2, pesaran cdw
Residuals calculated using {it: predict, e} from {it:xtreg}.
{txt}(894 missing values generated)
Unbalanced panel detected, test adjusted.
{res}
{txt}Testing for weak cross-sectional dependence (CSD)
{col 4}H0: weak cross-section dependence
{col 4}H1: strong cross-section dependence
{hline 15}{c TT}{hline 28}
{col 16}{c |}  {col 20} CD  {col 34} CDw
{hline 15}{c +}{hline 28}
residuals{col 16}{c |}{res} {col 16}    0.25 {col 30}   -1.48
{txt}{col 16}{c |}{res} {col 16} (0.799) {col 30} (0.139)
{txt}{hline 15}{c BT}{hline 28}
p-values in parenthesis.
References
  CD: {col 13} Pesaran ({help xtcd2##Pesaran2015:2015}, {help xtcd2##Pesaran2021:2021})
  CDw: {col 13} Juodis, Reese ({help xtcd2##JR2021:2021})

{com}. 
. ***linaburg2    -0.31   -0.16   
. ***                             -0.755  -0.873  
. 
. ***bti_cps2             -0.55   0.9             
. ***                             -0.584  -0.366  
. 
. ***bti_eos2             -1.01   -0.93   
. ***                             -0.314  -0.353  
. 
. ***gpcr_eci             0.25    -1.32   
. ***                             -0.799  -0.185  
. 
. 
. *** RESULTS:
. 
. *** testparm: For all, the Prob > F is < 0.05 for all three models, we fail to accept the null that the coefficients for the years are jointly equal to zero. In this case, time fixed effects are needed.
. *** xttest3: For all, we reject the null and conclude heteroskedasticity. 
. *** xtserial: For all, we reject the null and conclude serial correlation.
. *** xtcd2: No indication of strong cross-section dependence 
. *** Also, in these models we have shorter panel, hence -xtreg- is better suited than xtscc
. *** We also considered xtgls for Table 3 but N<T required for feasibility, tends to produce optimistic SE estimates, so we stick with xtreg, re vce(cluster cowcode)
. 
.   
. *** So, xtreg, re gls vce is good, but we supplement with xtcc in robustness
. *** Since several of our independent variables are time-invariant (and fixed effects will drop them), we estimate a random effects model ///
> /// with cluster-robust standard errors by country to account for potential heteroskedasticity and autocorrelation. 
> /// Adding year fixed effects ensures that time-specific shocks or trends that affect all entities are controlled for, improving the model's accuracy. 
> 
. 
. *** When using -xtreg-, we use:
. ///1. clustered standard errors (by country) to correct for both heteroskedasticity and serial correlation within panels. 
> ///2. year fixed effects. 
> 
. 
. ******************************
. *** NOW, the models (Manuscript, Table 3)
. 
. use "SWIFT_final_dataset_ISQ.dta", clear
{txt}
{com}. 
. drop if hasswf2==0
{txt}(9,911 observations deleted)

{com}. 
. xtset swf_num_id year
{res}{txt}{col 8}panel variable:  {res}swf_num_id (unbalanced)
{txt}{col 9}time variable:  {res}{col 25}year, 1932 to 2023, but with gaps
{txt}{col 17}delta:  {res}1 unit
{txt}
{com}. 
. ******************************
. *** SWF Governance (Manuscript, Table 3, Column DV: Linaburg-Maduell Transparency Index)
. ******************************
. 
. xtreg linaburg2 pdevde_1 pstab_1 psave_1  orioil_1 origas_1 orimin_1 orinonc_1 p_polity2_1 bci_bci_1 i.year, re vce(cluster cowcode)
{res}
{txt}Random-effects GLS regression                   Number of obs     = {res}       259
{txt}Group variable: {res}swf_num_id                      {txt}Number of groups  = {res}        62

{txt}R-sq:                                           Obs per group:
     within  = {res}0.4138                                         {txt}min = {res}         1
{txt}     between = {res}0.5329                                         {txt}avg = {res}       4.2
{txt}     overall = {res}0.4442                                         {txt}max = {res}        11

                                                {txt}{help j_robustsingular##|_new:Wald chi2(22)}{col 67}={col 70}{res}        .
{txt}corr(u_i, X)   = {res}0{txt} (assumed)                    Prob > chi2       =     {res}     .

{txt}{ralign 78:(Std. Err. adjusted for {res:32} clusters in cowcode)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}   linaburg2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}pdevde_1 {c |}{col 14}{res}{space 2}-.0085169{col 26}{space 2}   .80456{col 37}{space 1}   -0.01{col 46}{space 3}0.992{col 54}{space 4}-1.585426{col 67}{space 3} 1.568392
{txt}{space 5}pstab_1 {c |}{col 14}{res}{space 2} .4724466{col 26}{space 2} .8439797{col 37}{space 1}    0.56{col 46}{space 3}0.576{col 54}{space 4}-1.181723{col 67}{space 3} 2.126616
{txt}{space 5}psave_1 {c |}{col 14}{res}{space 2} .4626607{col 26}{space 2}  .903772{col 37}{space 1}    0.51{col 46}{space 3}0.609{col 54}{space 4}  -1.3087{col 67}{space 3} 2.234021
{txt}{space 4}orioil_1 {c |}{col 14}{res}{space 2} .3253321{col 26}{space 2} .8792246{col 37}{space 1}    0.37{col 46}{space 3}0.711{col 54}{space 4}-1.397917{col 67}{space 3} 2.048581
{txt}{space 4}origas_1 {c |}{col 14}{res}{space 2} .1020398{col 26}{space 2} 1.030322{col 37}{space 1}    0.10{col 46}{space 3}0.921{col 54}{space 4}-1.917354{col 67}{space 3} 2.121433
{txt}{space 4}orimin_1 {c |}{col 14}{res}{space 2} 1.026583{col 26}{space 2} .8412051{col 37}{space 1}    1.22{col 46}{space 3}0.222{col 54}{space 4}-.6221483{col 67}{space 3} 2.675315
{txt}{space 3}orinonc_1 {c |}{col 14}{res}{space 2} 1.985095{col 26}{space 2}  1.05052{col 37}{space 1}    1.89{col 46}{space 3}0.059{col 54}{space 4}-.0738859{col 67}{space 3} 4.044077
{txt}{space 1}p_polity2_1 {c |}{col 14}{res}{space 2} .1183625{col 26}{space 2} .0465871{col 37}{space 1}    2.54{col 46}{space 3}0.011{col 54}{space 4} .0270534{col 67}{space 3} .2096715
{txt}{space 3}bci_bci_1 {c |}{col 14}{res}{space 2}-.0537354{col 26}{space 2} .0139474{col 37}{space 1}   -3.85{col 46}{space 3}0.000{col 54}{space 4}-.0810717{col 67}{space 3} -.026399
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2005  {c |}{col 14}{res}{space 2}-4.328508{col 26}{space 2} .3037198{col 37}{space 1}  -14.25{col 46}{space 3}0.000{col 54}{space 4}-4.923788{col 67}{space 3}-3.733228
{txt}{space 7}2006  {c |}{col 14}{res}{space 2}-1.832178{col 26}{space 2} .6227981{col 37}{space 1}   -2.94{col 46}{space 3}0.003{col 54}{space 4} -3.05284{col 67}{space 3}-.6115162
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}-3.795934{col 26}{space 2} .5246514{col 37}{space 1}   -7.24{col 46}{space 3}0.000{col 54}{space 4}-4.824232{col 67}{space 3}-2.767636
{txt}{space 7}2008  {c |}{col 14}{res}{space 2}-2.190178{col 26}{space 2} .4030609{col 37}{space 1}   -5.43{col 46}{space 3}0.000{col 54}{space 4}-2.980163{col 67}{space 3}-1.400193
{txt}{space 7}2009  {c |}{col 14}{res}{space 2}-2.080084{col 26}{space 2} .3952983{col 37}{space 1}   -5.26{col 46}{space 3}0.000{col 54}{space 4}-2.854855{col 67}{space 3}-1.305314
{txt}{space 7}2010  {c |}{col 14}{res}{space 2}-1.577288{col 26}{space 2} .5163813{col 37}{space 1}   -3.05{col 46}{space 3}0.002{col 54}{space 4}-2.589376{col 67}{space 3}-.5651989
{txt}{space 7}2011  {c |}{col 14}{res}{space 2}-.9226782{col 26}{space 2} .3507558{col 37}{space 1}   -2.63{col 46}{space 3}0.009{col 54}{space 4}-1.610147{col 67}{space 3}-.2352095
{txt}{space 7}2012  {c |}{col 14}{res}{space 2}-.2892277{col 26}{space 2} .3938391{col 37}{space 1}   -0.73{col 46}{space 3}0.463{col 54}{space 4}-1.061138{col 67}{space 3} .4826828
{txt}{space 7}2013  {c |}{col 14}{res}{space 2}-.3923266{col 26}{space 2} .3480811{col 37}{space 1}   -1.13{col 46}{space 3}0.260{col 54}{space 4}-1.074553{col 67}{space 3} .2898998
{txt}{space 7}2014  {c |}{col 14}{res}{space 2}-.5706091{col 26}{space 2} .3447894{col 37}{space 1}   -1.65{col 46}{space 3}0.098{col 54}{space 4}-1.246384{col 67}{space 3} .1051656
{txt}{space 7}2015  {c |}{col 14}{res}{space 2}-.2998894{col 26}{space 2} .4493677{col 37}{space 1}   -0.67{col 46}{space 3}0.505{col 54}{space 4}-1.180634{col 67}{space 3} .5808551
{txt}{space 7}2016  {c |}{col 14}{res}{space 2}-.3822901{col 26}{space 2} .4414457{col 37}{space 1}   -0.87{col 46}{space 3}0.386{col 54}{space 4}-1.247508{col 67}{space 3} .4829275
{txt}{space 7}2017  {c |}{col 14}{res}{space 2}-.5047509{col 26}{space 2} .3642974{col 37}{space 1}   -1.39{col 46}{space 3}0.166{col 54}{space 4}-1.218761{col 67}{space 3} .2092589
{txt}{space 7}2018  {c |}{col 14}{res}{space 2}-.4390418{col 26}{space 2} .2236424{col 37}{space 1}   -1.96{col 46}{space 3}0.050{col 54}{space 4}-.8773729{col 67}{space 3}-.0007107
{txt}{space 7}2021  {c |}{col 14}{res}{space 2} .0255622{col 26}{space 2} .3020917{col 37}{space 1}    0.08{col 46}{space 3}0.933{col 54}{space 4}-.5665266{col 67}{space 3} .6176511
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 7.748205{col 26}{space 2} 1.332655{col 37}{space 1}    5.81{col 46}{space 3}0.000{col 54}{space 4} 5.136249{col 67}{space 3} 10.36016
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} 1.8907243
     {txt}sigma_e {c |} {res} .97589963
         {txt}rho {c |} {res} .78963239{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}

{com}. outreg2 using tab3.xls, replace ctitle(DV: Linaburg-Maduell Transparency Index)  dec(3) label  e(all)  2aster
{txt}{browse `"tab3.xls"'}
{browse `"C:\ado\SWIFT"' :dir}{com} : {txt}{stata `"seeout using "tab3.txt", label"':seeout}

{com}. 
. ******************************
. *** Monetary and fiscal stability (Manuscript, Table 3, Column DV: Monetary and fiscal stability)
. ******************************
. 
. use "SWIFT_collapsed_dataset.dta", clear 
{txt}
{com}. 
. xtset cowcode year
{res}{txt}{col 8}panel variable:  {res}cowcode (unbalanced)
{txt}{col 9}time variable:  {res}{col 25}year, 1932 to 2023, but with gaps
{txt}{col 17}delta:  {res}1 unit
{txt}
{com}. 
. xtreg bti_cps2  pdevde_1 pstab_1 psave_1  orioil_1 origas_1 orimin_1 orinonc_1 p_polity2_1 bci_bci_1 i.year, re vce(cluster cowcode)
{res}
{txt}Random-effects GLS regression                   Number of obs     = {res}       478
{txt}Group variable: {res}cowcode                         {txt}Number of groups  = {res}        50

{txt}R-sq:                                           Obs per group:
     within  = {res}0.2156                                         {txt}min = {res}         1
{txt}     between = {res}0.2182                                         {txt}avg = {res}       9.6
{txt}     overall = {res}0.3108                                         {txt}max = {res}        16

                                                {txt}Wald chi2({res}24{txt})     =  {res}138129.43
{txt}corr(u_i, X)   = {res}0{txt} (assumed)                    Prob > chi2       =     {res}0.0000

{txt}{ralign 78:(Std. Err. adjusted for {res:50} clusters in cowcode)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}    bti_cps2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}pdevde_1 {c |}{col 14}{res}{space 2}-.0300801{col 26}{space 2} .3061012{col 37}{space 1}   -0.10{col 46}{space 3}0.922{col 54}{space 4}-.6300273{col 67}{space 3} .5698672
{txt}{space 5}pstab_1 {c |}{col 14}{res}{space 2}-.2093804{col 26}{space 2} .2963159{col 37}{space 1}   -0.71{col 46}{space 3}0.480{col 54}{space 4}-.7901489{col 67}{space 3} .3713881
{txt}{space 5}psave_1 {c |}{col 14}{res}{space 2}-.5187238{col 26}{space 2} .2689484{col 37}{space 1}   -1.93{col 46}{space 3}0.054{col 54}{space 4}-1.045853{col 67}{space 3} .0084054
{txt}{space 4}orioil_1 {c |}{col 14}{res}{space 2}-.4220161{col 26}{space 2} .4473856{col 37}{space 1}   -0.94{col 46}{space 3}0.346{col 54}{space 4}-1.298876{col 67}{space 3} .4548436
{txt}{space 4}origas_1 {c |}{col 14}{res}{space 2}-.2594017{col 26}{space 2} .2991298{col 37}{space 1}   -0.87{col 46}{space 3}0.386{col 54}{space 4}-.8456854{col 67}{space 3} .3268819
{txt}{space 4}orimin_1 {c |}{col 14}{res}{space 2} 2.161876{col 26}{space 2} .6787583{col 37}{space 1}    3.19{col 46}{space 3}0.001{col 54}{space 4} .8315339{col 67}{space 3} 3.492218
{txt}{space 3}orinonc_1 {c |}{col 14}{res}{space 2}  .172722{col 26}{space 2} .3141396{col 37}{space 1}    0.55{col 46}{space 3}0.582{col 54}{space 4}-.4429804{col 67}{space 3} .7884243
{txt}{space 1}p_polity2_1 {c |}{col 14}{res}{space 2}-.0110999{col 26}{space 2} .0508149{col 37}{space 1}   -0.22{col 46}{space 3}0.827{col 54}{space 4}-.1106953{col 67}{space 3} .0884955
{txt}{space 3}bci_bci_1 {c |}{col 14}{res}{space 2}-.0372378{col 26}{space 2} .0197948{col 37}{space 1}   -1.88{col 46}{space 3}0.060{col 54}{space 4} -.076035{col 67}{space 3} .0015593
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2006  {c |}{col 14}{res}{space 2} .0991819{col 26}{space 2} .1216842{col 37}{space 1}    0.82{col 46}{space 3}0.415{col 54}{space 4}-.1393148{col 67}{space 3} .3376785
{txt}{space 7}2007  {c |}{col 14}{res}{space 2} .1185654{col 26}{space 2} .2040252{col 37}{space 1}    0.58{col 46}{space 3}0.561{col 54}{space 4}-.2813166{col 67}{space 3} .5184474
{txt}{space 7}2008  {c |}{col 14}{res}{space 2}-.1285435{col 26}{space 2} .2170709{col 37}{space 1}   -0.59{col 46}{space 3}0.554{col 54}{space 4}-.5539946{col 67}{space 3} .2969075
{txt}{space 7}2009  {c |}{col 14}{res}{space 2}-.2143229{col 26}{space 2} .2491679{col 37}{space 1}   -0.86{col 46}{space 3}0.390{col 54}{space 4}-.7026829{col 67}{space 3} .2740371
{txt}{space 7}2010  {c |}{col 14}{res}{space 2}-.1174058{col 26}{space 2} .2311391{col 37}{space 1}   -0.51{col 46}{space 3}0.611{col 54}{space 4}-.5704301{col 67}{space 3} .3356186
{txt}{space 7}2011  {c |}{col 14}{res}{space 2}-.0587925{col 26}{space 2} .2227151{col 37}{space 1}   -0.26{col 46}{space 3}0.792{col 54}{space 4}-.4953061{col 67}{space 3}  .377721
{txt}{space 7}2012  {c |}{col 14}{res}{space 2}-.1062813{col 26}{space 2} .2288262{col 37}{space 1}   -0.46{col 46}{space 3}0.642{col 54}{space 4}-.5547724{col 67}{space 3} .3422099
{txt}{space 7}2013  {c |}{col 14}{res}{space 2}-.1480236{col 26}{space 2} .2443057{col 37}{space 1}   -0.61{col 46}{space 3}0.545{col 54}{space 4} -.626854{col 67}{space 3} .3308068
{txt}{space 7}2014  {c |}{col 14}{res}{space 2}-.3024407{col 26}{space 2} .2375393{col 37}{space 1}   -1.27{col 46}{space 3}0.203{col 54}{space 4}-.7680091{col 67}{space 3} .1631277
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} -.404613{col 26}{space 2} .2510605{col 37}{space 1}   -1.61{col 46}{space 3}0.107{col 54}{space 4}-.8966826{col 67}{space 3} .0874566
{txt}{space 7}2016  {c |}{col 14}{res}{space 2}-.4767111{col 26}{space 2} .2442385{col 37}{space 1}   -1.95{col 46}{space 3}0.051{col 54}{space 4}-.9554098{col 67}{space 3} .0019876
{txt}{space 7}2017  {c |}{col 14}{res}{space 2}-.5629955{col 26}{space 2} .2496426{col 37}{space 1}   -2.26{col 46}{space 3}0.024{col 54}{space 4}-1.052286{col 67}{space 3}-.0737049
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} -.553507{col 26}{space 2} .2566887{col 37}{space 1}   -2.16{col 46}{space 3}0.031{col 54}{space 4}-1.056608{col 67}{space 3}-.0504064
{txt}{space 7}2019  {c |}{col 14}{res}{space 2}-.5966736{col 26}{space 2} .2715127{col 37}{space 1}   -2.20{col 46}{space 3}0.028{col 54}{space 4}-1.128829{col 67}{space 3}-.0645185
{txt}{space 7}2020  {c |}{col 14}{res}{space 2} .2757269{col 26}{space 2} .2153773{col 37}{space 1}    1.28{col 46}{space 3}0.200{col 54}{space 4}-.1464049{col 67}{space 3} .6978586
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 9.530116{col 26}{space 2}  1.07947{col 37}{space 1}    8.83{col 46}{space 3}0.000{col 54}{space 4} 7.414394{col 67}{space 3} 11.64584
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} 1.4444767
     {txt}sigma_e {c |} {res}  .5362638
         {txt}rho {c |} {res} .87886784{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}

{com}. outreg2 using tab3.xls, append ctitle(DV: Monetary and fiscal stability)  dec(3) label  e(all)  2aster
{txt}{browse `"tab3.xls"'}
{browse `"C:\ado\SWIFT"' :dir}{com} : {txt}{stata `"seeout using "tab3.txt", label"':seeout}

{com}. 
. *********************************************************************************
. *** TOPIC 3: DEVELOPMENT MANDATE-ECONOMIC COMPLEXITY ***
. *********************************************************************************
. 
. ******************************
. *** Economic Output Strength (Manuscript, Table 3, Column DV: Economic Output Strength)
. ******************************
. 
. xtreg bti_eos2  pdevde_1 pstab_1 psave_1  orioil_1 origas_1 orimin_1 orinonc_1 p_polity2_1 bci_bci_1 i.year, re vce(cluster cowcode)
{res}
{txt}Random-effects GLS regression                   Number of obs     = {res}       478
{txt}Group variable: {res}cowcode                         {txt}Number of groups  = {res}        50

{txt}R-sq:                                           Obs per group:
     within  = {res}0.3618                                         {txt}min = {res}         1
{txt}     between = {res}0.4216                                         {txt}avg = {res}       9.6
{txt}     overall = {res}0.4343                                         {txt}max = {res}        16

                                                {txt}Wald chi2({res}24{txt})     =  {res}  5998.05
{txt}corr(u_i, X)   = {res}0{txt} (assumed)                    Prob > chi2       =     {res}0.0000

{txt}{ralign 78:(Std. Err. adjusted for {res:50} clusters in cowcode)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}    bti_eos2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}pdevde_1 {c |}{col 14}{res}{space 2}-.3698809{col 26}{space 2} .3713504{col 37}{space 1}   -1.00{col 46}{space 3}0.319{col 54}{space 4}-1.097714{col 67}{space 3} .3579525
{txt}{space 5}pstab_1 {c |}{col 14}{res}{space 2} .3895995{col 26}{space 2} .3595676{col 37}{space 1}    1.08{col 46}{space 3}0.279{col 54}{space 4}  -.31514{col 67}{space 3} 1.094339
{txt}{space 5}psave_1 {c |}{col 14}{res}{space 2} -.273033{col 26}{space 2}  .330966{col 37}{space 1}   -0.82{col 46}{space 3}0.409{col 54}{space 4}-.9217145{col 67}{space 3} .3756485
{txt}{space 4}orioil_1 {c |}{col 14}{res}{space 2}-.2067636{col 26}{space 2} .6032486{col 37}{space 1}   -0.34{col 46}{space 3}0.732{col 54}{space 4}-1.389109{col 67}{space 3}  .975582
{txt}{space 4}origas_1 {c |}{col 14}{res}{space 2}-.2225924{col 26}{space 2} .3010817{col 37}{space 1}   -0.74{col 46}{space 3}0.460{col 54}{space 4}-.8127016{col 67}{space 3} .3675168
{txt}{space 4}orimin_1 {c |}{col 14}{res}{space 2} 1.157382{col 26}{space 2} .5905824{col 37}{space 1}    1.96{col 46}{space 3}0.050{col 54}{space 4}-.0001381{col 67}{space 3} 2.314902
{txt}{space 3}orinonc_1 {c |}{col 14}{res}{space 2} .1701932{col 26}{space 2} .4891482{col 37}{space 1}    0.35{col 46}{space 3}0.728{col 54}{space 4}-.7885197{col 67}{space 3} 1.128906
{txt}{space 1}p_polity2_1 {c |}{col 14}{res}{space 2} -.044958{col 26}{space 2} .0580146{col 37}{space 1}   -0.77{col 46}{space 3}0.438{col 54}{space 4}-.1586645{col 67}{space 3} .0687485
{txt}{space 3}bci_bci_1 {c |}{col 14}{res}{space 2}-.0637683{col 26}{space 2} .0193955{col 37}{space 1}   -3.29{col 46}{space 3}0.001{col 54}{space 4}-.1017828{col 67}{space 3}-.0257539
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2006  {c |}{col 14}{res}{space 2} .2486184{col 26}{space 2} .1135819{col 37}{space 1}    2.19{col 46}{space 3}0.029{col 54}{space 4}  .026002{col 67}{space 3} .4712347
{txt}{space 7}2007  {c |}{col 14}{res}{space 2} .4060985{col 26}{space 2} .2256943{col 37}{space 1}    1.80{col 46}{space 3}0.072{col 54}{space 4}-.0362542{col 67}{space 3} .8484512
{txt}{space 7}2008  {c |}{col 14}{res}{space 2} .1843746{col 26}{space 2} .2593889{col 37}{space 1}    0.71{col 46}{space 3}0.477{col 54}{space 4}-.3240183{col 67}{space 3} .6927675
{txt}{space 7}2009  {c |}{col 14}{res}{space 2} .0339482{col 26}{space 2}  .304046{col 37}{space 1}    0.11{col 46}{space 3}0.911{col 54}{space 4} -.561971{col 67}{space 3} .6298675
{txt}{space 7}2010  {c |}{col 14}{res}{space 2} .0503331{col 26}{space 2} .2788619{col 37}{space 1}    0.18{col 46}{space 3}0.857{col 54}{space 4}-.4962263{col 67}{space 3} .5968925
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} .0959852{col 26}{space 2} .2689571{col 37}{space 1}    0.36{col 46}{space 3}0.721{col 54}{space 4} -.431161{col 67}{space 3} .6231314
{txt}{space 7}2012  {c |}{col 14}{res}{space 2} .0028647{col 26}{space 2} .2627693{col 37}{space 1}    0.01{col 46}{space 3}0.991{col 54}{space 4}-.5121537{col 67}{space 3} .5178832
{txt}{space 7}2013  {c |}{col 14}{res}{space 2}-.1012076{col 26}{space 2} .2777319{col 37}{space 1}   -0.36{col 46}{space 3}0.716{col 54}{space 4}-.6455522{col 67}{space 3}  .443137
{txt}{space 7}2014  {c |}{col 14}{res}{space 2}-.3873458{col 26}{space 2} .2780929{col 37}{space 1}   -1.39{col 46}{space 3}0.164{col 54}{space 4}-.9323979{col 67}{space 3} .1577062
{txt}{space 7}2015  {c |}{col 14}{res}{space 2}-.6676604{col 26}{space 2} .3054202{col 37}{space 1}   -2.19{col 46}{space 3}0.029{col 54}{space 4}-1.266273{col 67}{space 3}-.0690479
{txt}{space 7}2016  {c |}{col 14}{res}{space 2}-.9335678{col 26}{space 2} .3022643{col 37}{space 1}   -3.09{col 46}{space 3}0.002{col 54}{space 4}-1.525995{col 67}{space 3}-.3411407
{txt}{space 7}2017  {c |}{col 14}{res}{space 2}-1.217228{col 26}{space 2} .3164588{col 37}{space 1}   -3.85{col 46}{space 3}0.000{col 54}{space 4}-1.837476{col 67}{space 3}-.5969802
{txt}{space 7}2018  {c |}{col 14}{res}{space 2}-1.116008{col 26}{space 2} .3108589{col 37}{space 1}   -3.59{col 46}{space 3}0.000{col 54}{space 4} -1.72528{col 67}{space 3}-.5067357
{txt}{space 7}2019  {c |}{col 14}{res}{space 2}-1.096016{col 26}{space 2} .3139217{col 37}{space 1}   -3.49{col 46}{space 3}0.000{col 54}{space 4}-1.711291{col 67}{space 3}-.4807406
{txt}{space 7}2020  {c |}{col 14}{res}{space 2}-.7459131{col 26}{space 2} .2378724{col 37}{space 1}   -3.14{col 46}{space 3}0.002{col 54}{space 4}-1.212134{col 67}{space 3}-.2796917
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 10.57623{col 26}{space 2} 1.038897{col 37}{space 1}   10.18{col 46}{space 3}0.000{col 54}{space 4} 8.540027{col 67}{space 3} 12.61243
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} 1.1086744
     {txt}sigma_e {c |} {res} .77682251
         {txt}rho {c |} {res} .67071418{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}

{com}. outreg2 using tab3.xls, append ctitle(Economic Output Strength GLS noldv )  dec(3) label  e(all)  2aster
{txt}{browse `"tab3.xls"'}
{browse `"C:\ado\SWIFT"' :dir}{com} : {txt}{stata `"seeout using "tab3.txt", label"':seeout}

{com}. 
. ******************************
. *** Economic Complexity Index (Manuscript, Table 3, Column DV: Economic Complexity Index)
. ******************************
. xtreg gpcr_eci  pdevde_1 pstab_1 psave_1  orioil_1 origas_1 orimin_1 orinonc_1 p_polity2_1 bci_bci_1  i.year, re vce(cluster cowcode)
{res}
{txt}Random-effects GLS regression                   Number of obs     = {res}       832
{txt}Group variable: {res}cowcode                         {txt}Number of groups  = {res}        58

{txt}R-sq:                                           Obs per group:
     within  = {res}0.1187                                         {txt}min = {res}         1
{txt}     between = {res}0.5370                                         {txt}avg = {res}      14.3
{txt}     overall = {res}0.5012                                         {txt}max = {res}        27

                                                {txt}Wald chi2({res}35{txt})     =  {res}571447.44
{txt}corr(u_i, X)   = {res}0{txt} (assumed)                    Prob > chi2       =     {res}0.0000

{txt}{ralign 78:(Std. Err. adjusted for {res:58} clusters in cowcode)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}    gpcr_eci{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}pdevde_1 {c |}{col 14}{res}{space 2}-.2265363{col 26}{space 2} .1282199{col 37}{space 1}   -1.77{col 46}{space 3}0.077{col 54}{space 4}-.4778428{col 67}{space 3} .0247702
{txt}{space 5}pstab_1 {c |}{col 14}{res}{space 2} -.196343{col 26}{space 2}  .146701{col 37}{space 1}   -1.34{col 46}{space 3}0.181{col 54}{space 4}-.4838717{col 67}{space 3} .0911856
{txt}{space 5}psave_1 {c |}{col 14}{res}{space 2}  .065377{col 26}{space 2} .1108279{col 37}{space 1}    0.59{col 46}{space 3}0.555{col 54}{space 4}-.1518417{col 67}{space 3} .2825957
{txt}{space 4}orioil_1 {c |}{col 14}{res}{space 2}-.4551372{col 26}{space 2} .1396328{col 37}{space 1}   -3.26{col 46}{space 3}0.001{col 54}{space 4}-.7288124{col 67}{space 3} -.181462
{txt}{space 4}origas_1 {c |}{col 14}{res}{space 2}-.2009207{col 26}{space 2} .1420673{col 37}{space 1}   -1.41{col 46}{space 3}0.157{col 54}{space 4}-.4793674{col 67}{space 3}  .077526
{txt}{space 4}orimin_1 {c |}{col 14}{res}{space 2} .0408721{col 26}{space 2} .2178439{col 37}{space 1}    0.19{col 46}{space 3}0.851{col 54}{space 4} -.386094{col 67}{space 3} .4678382
{txt}{space 3}orinonc_1 {c |}{col 14}{res}{space 2}-.0118226{col 26}{space 2} .2121309{col 37}{space 1}   -0.06{col 46}{space 3}0.956{col 54}{space 4}-.4275916{col 67}{space 3} .4039463
{txt}{space 1}p_polity2_1 {c |}{col 14}{res}{space 2} .0185972{col 26}{space 2} .0160542{col 37}{space 1}    1.16{col 46}{space 3}0.247{col 54}{space 4}-.0128684{col 67}{space 3} .0500628
{txt}{space 3}bci_bci_1 {c |}{col 14}{res}{space 2}-.0199488{col 26}{space 2} .0079689{col 37}{space 1}   -2.50{col 46}{space 3}0.012{col 54}{space 4}-.0355676{col 67}{space 3}-.0043299
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}1996  {c |}{col 14}{res}{space 2}-.0423845{col 26}{space 2} .0487815{col 37}{space 1}   -0.87{col 46}{space 3}0.385{col 54}{space 4}-.1379946{col 67}{space 3} .0532255
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-.0977654{col 26}{space 2} .0530343{col 37}{space 1}   -1.84{col 46}{space 3}0.065{col 54}{space 4}-.2017108{col 67}{space 3}   .00618
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-.0374883{col 26}{space 2} .0478971{col 37}{space 1}   -0.78{col 46}{space 3}0.434{col 54}{space 4} -.131365{col 67}{space 3} .0563883
{txt}{space 7}1999  {c |}{col 14}{res}{space 2} .0025341{col 26}{space 2} .0902049{col 37}{space 1}    0.03{col 46}{space 3}0.978{col 54}{space 4}-.1742643{col 67}{space 3} .1793326
{txt}{space 7}2000  {c |}{col 14}{res}{space 2}-.0440882{col 26}{space 2} .1072299{col 37}{space 1}   -0.41{col 46}{space 3}0.681{col 54}{space 4} -.254255{col 67}{space 3} .1660786
{txt}{space 7}2001  {c |}{col 14}{res}{space 2}-.0653539{col 26}{space 2}  .115131{col 37}{space 1}   -0.57{col 46}{space 3}0.570{col 54}{space 4}-.2910065{col 67}{space 3} .1602986
{txt}{space 7}2002  {c |}{col 14}{res}{space 2}-.0209006{col 26}{space 2} .1137595{col 37}{space 1}   -0.18{col 46}{space 3}0.854{col 54}{space 4}-.2438651{col 67}{space 3}  .202064
{txt}{space 7}2003  {c |}{col 14}{res}{space 2}-.0388411{col 26}{space 2} .1214185{col 37}{space 1}   -0.32{col 46}{space 3}0.749{col 54}{space 4}-.2768169{col 67}{space 3} .1991348
{txt}{space 7}2004  {c |}{col 14}{res}{space 2}-.0278861{col 26}{space 2} .1072691{col 37}{space 1}   -0.26{col 46}{space 3}0.795{col 54}{space 4}-.2381296{col 67}{space 3} .1823574
{txt}{space 7}2005  {c |}{col 14}{res}{space 2}-.0361227{col 26}{space 2} .1074319{col 37}{space 1}   -0.34{col 46}{space 3}0.737{col 54}{space 4}-.2466855{col 67}{space 3}   .17444
{txt}{space 7}2006  {c |}{col 14}{res}{space 2}-.1656707{col 26}{space 2} .1112324{col 37}{space 1}   -1.49{col 46}{space 3}0.136{col 54}{space 4}-.3836822{col 67}{space 3} .0523409
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}-.2599238{col 26}{space 2} .1181054{col 37}{space 1}   -2.20{col 46}{space 3}0.028{col 54}{space 4}-.4914062{col 67}{space 3}-.0284413
{txt}{space 7}2008  {c |}{col 14}{res}{space 2}-.3271926{col 26}{space 2} .1290528{col 37}{space 1}   -2.54{col 46}{space 3}0.011{col 54}{space 4}-.5801314{col 67}{space 3}-.0742537
{txt}{space 7}2009  {c |}{col 14}{res}{space 2}-.2381072{col 26}{space 2} .1129101{col 37}{space 1}   -2.11{col 46}{space 3}0.035{col 54}{space 4} -.459407{col 67}{space 3}-.0168074
{txt}{space 7}2010  {c |}{col 14}{res}{space 2}-.1383982{col 26}{space 2} .1264861{col 37}{space 1}   -1.09{col 46}{space 3}0.274{col 54}{space 4}-.3863063{col 67}{space 3} .1095099
{txt}{space 7}2011  {c |}{col 14}{res}{space 2}-.3007414{col 26}{space 2} .1260937{col 37}{space 1}   -2.39{col 46}{space 3}0.017{col 54}{space 4}-.5478804{col 67}{space 3}-.0536023
{txt}{space 7}2012  {c |}{col 14}{res}{space 2}-.2892259{col 26}{space 2} .1311129{col 37}{space 1}   -2.21{col 46}{space 3}0.027{col 54}{space 4}-.5462025{col 67}{space 3}-.0322493
{txt}{space 7}2013  {c |}{col 14}{res}{space 2}-.2244026{col 26}{space 2} .1213599{col 37}{space 1}   -1.85{col 46}{space 3}0.064{col 54}{space 4}-.4622638{col 67}{space 3} .0134585
{txt}{space 7}2014  {c |}{col 14}{res}{space 2}-.2204557{col 26}{space 2} .1231812{col 37}{space 1}   -1.79{col 46}{space 3}0.074{col 54}{space 4}-.4618865{col 67}{space 3}  .020975
{txt}{space 7}2015  {c |}{col 14}{res}{space 2}-.1637855{col 26}{space 2} .1275023{col 37}{space 1}   -1.28{col 46}{space 3}0.199{col 54}{space 4}-.4136853{col 67}{space 3} .0861144
{txt}{space 7}2016  {c |}{col 14}{res}{space 2}-.1493384{col 26}{space 2} .1284838{col 37}{space 1}   -1.16{col 46}{space 3}0.245{col 54}{space 4}-.4011621{col 67}{space 3} .1024853
{txt}{space 7}2017  {c |}{col 14}{res}{space 2}-.1565626{col 26}{space 2} .1252778{col 37}{space 1}   -1.25{col 46}{space 3}0.211{col 54}{space 4}-.4021025{col 67}{space 3} .0889773
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} -.157844{col 26}{space 2} .1233161{col 37}{space 1}   -1.28{col 46}{space 3}0.201{col 54}{space 4}-.3995392{col 67}{space 3} .0838511
{txt}{space 7}2019  {c |}{col 14}{res}{space 2}-.1091355{col 26}{space 2} .1292583{col 37}{space 1}   -0.84{col 46}{space 3}0.398{col 54}{space 4}-.3624771{col 67}{space 3} .1442062
{txt}{space 7}2020  {c |}{col 14}{res}{space 2}-.0780218{col 26}{space 2} .2169436{col 37}{space 1}   -0.36{col 46}{space 3}0.719{col 54}{space 4}-.5032234{col 67}{space 3} .3471798
{txt}{space 7}2021  {c |}{col 14}{res}{space 2}-.3192511{col 26}{space 2}   .11505{col 37}{space 1}   -2.77{col 46}{space 3}0.006{col 54}{space 4}-.5447449{col 67}{space 3}-.0937573
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 1.321479{col 26}{space 2}  .433516{col 37}{space 1}    3.05{col 46}{space 3}0.002{col 54}{space 4} .4718035{col 67}{space 3} 2.171155
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res}  .5785568
     {txt}sigma_e {c |} {res} .25732291
         {txt}rho {c |} {res} .83485166{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}

{com}. outreg2 using tab3.xls, append ctitle( Economic Complexity Index, GLS, noldv)  dec(3) label  e(all) 2aster
{txt}{browse `"tab3.xls"'}
{browse `"C:\ado\SWIFT"' :dir}{com} : {txt}{stata `"seeout using "tab3.txt", label"':seeout}

{com}. 
. 
. 
. 
. 
. ******************************
. *** ONLINE APPENDIX
. ******************************
. use "SWIFT_final_dataset_ISQ.dta", clear
{txt}
{com}. 
. *** Table 2. Summary statistics of main validated variables in SWIFT
. sum ccode cowcode year hasswf swf_num_id nswfs swfestyear swfstart firstswf ///
> swfsplit  swflevelsub  subbudgeted swflevel pstab psave pdevde pholding pcash ///
> pstratinvest earmarked linaburg peterson peterson2015 globalswfscore santiago ///
> deprule spendrule withdrawchange deprulechange rgiswf rgidepwith rgiprac ///
> orioil origas oricop  orimin oriphos orinonc oriforex oribudsurplus origovfirms ///
> assetspc2010 assetsbn2010 withdrawusd2010 dominvper depusd2010

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 7}ccode {c |}{res}          0
{txt}{space 5}cowcode {c |}{res}     12,696    448.9609    263.4252          2       1020
{txt}{space 8}year {c |}{res}     12,696    1986.766    24.74322       1932       2023
{txt}{space 6}hasswf {c |}{res}     12,696    .2160129    .4095007          0          1
{txt}{space 2}swf_num_id {c |}{res}      2,785    83.55117    46.24994          1        145
{txt}{hline 13}{c +}{hline 57}
{space 7}nswfs {c |}{res}     12,696    .7006931    1.969082          0         11
{txt}{space 2}swfestyear {c |}{res}     12,696     .014414    .1191946          0          1
{txt}{space 4}swfstart {c |}{res}      2,785    .0473968    .2125242          0          1
{txt}{space 4}firstswf {c |}{res}      2,785    .0287253    .1670634          0          1
{txt}{space 4}swfsplit {c |}{res}      2,785    .0100539    .1892576          0          4
{txt}{hline 13}{c +}{hline 57}
{space 1}swflevelsub {c |}{res}          0
{txt}{space 1}subbudgeted {c |}{res}      2,785    .0682226    .2521728          0          1
{txt}{space 4}swflevel {c |}{res}      2,785    1.314542    .4644167          1          2
{txt}{space 7}pstab {c |}{res}      2,785    .1698384    .3755582          0          1
{txt}{space 7}psave {c |}{res}      2,785     .605386    .4888554          0          1
{txt}{hline 13}{c +}{hline 57}
{space 6}pdevde {c |}{res}      2,785    .2944345      .45587          0          1
{txt}{space 4}pholding {c |}{res}      2,785    .1669659    .3730124          0          1
{txt}{space 7}pcash {c |}{res}      2,785    .0236984    .1521351          0          1
{txt}pstratinvest {c |}{res}      2,785    .1752244    .3802272          0          1
{txt}{space 3}earmarked {c |}{res}      2,785    .3116697    .4632588          0          1
{txt}{hline 13}{c +}{hline 57}
{space 4}linaburg {c |}{res}        325    6.249231    3.008636          1         10
{txt}{space 4}peterson {c |}{res}         41    17.14024    9.064017         .5       32.5
{txt}peterson2015 {c |}{res}        212    59.23113    24.17861          2        100
{txt}globalswfs~e {c |}{res}        257    12.87549    6.092393          0         25
{txt}{space 4}santiago {c |}{res}      1,498    .2209613    .4093609          0          1
{txt}{hline 13}{c +}{hline 57}
{space 5}deprule {c |}{res}      2,779    .4026628    .4905222          0          1
{txt}{space 3}spendrule {c |}{res}      2,779    .3033465    .4597863          0          1
{txt}withdrawch~e {c |}{res}      2,716    .0033137    .0574798          0          1
{txt}deprulecha~e {c |}{res}      2,684    .0033532    .0578205          0          1
{txt}{space 6}rgiswf {c |}{res}         34    48.31471    29.66496          4        100
{txt}{hline 13}{c +}{hline 57}
{space 2}rgidepwith {c |}{res}         34    51.97059    37.81172          0        100
{txt}{space 5}rgiprac {c |}{res}         34    47.11765    38.89829          0        100
{txt}{space 6}orioil {c |}{res}      2,785    .5770197    .4941211          0          1
{txt}{space 6}origas {c |}{res}      2,785    .3249551    .4684422          0          1
{txt}{space 6}oricop {c |}{res}      2,785    .0344704    .1824668          0          1
{txt}{hline 13}{c +}{hline 57}
{space 6}orimin {c |}{res}      2,785    .2452424    .4303081          0          1
{txt}{space 5}oriphos {c |}{res}      2,785    .0456014    .2086566          0          1
{txt}{space 5}orinonc {c |}{res}      2,785    .2750449    .4466171          0          1
{txt}{space 4}oriforex {c |}{res}      2,785    .1285458    .3347566          0          1
{txt}oribudsurp~s {c |}{res}      2,785    .0549372    .2278985          0          1
{txt}{hline 13}{c +}{hline 57}
{space 1}origovfirms {c |}{res}      2,785    .0818671    .2742114          0          1
{txt}assetspc2010 {c |}{res}      1,321    8455.626    26357.62          0   213724.8
{txt}assetsbn2010 {c |}{res}      1,321    73.43278    170.0181          0   1179.674
{txt}withdra~2010 {c |}{res}        447    2.406652    8.852718          0   105.6675
{txt}{space 3}dominvper {c |}{res}        399     6.17193    22.98231          0        100
{txt}{hline 13}{c +}{hline 57}
{space 2}depusd2010 {c |}{res}        266    6.652214    29.13466          0   304.2689
{txt}
{com}. 
. collapse (mean) hasswf hasswf2 hasswf2_1 hasswf2_3  hasswf2_5  feregion2 assetsbn2010 assetspc2010ln_1  linaburg ///
> linaburg2 linaburg_12  p_polity2 totalrentspcln_1 totalrentspcln_3 totalrentspcln_5  dr_eg dr_eg_1 dr_pg dr_pg_1 dr_sg_1   dr_sg_3 dr_sg_5 rgdppcln_1 ///
> rgdppcln_3 rgdppcln_5 p_polity2_1 bci_bci_1 bti_cps bti_cps2 bti_cps_1  bti_cps_12 bti_ic bti_ic2 bti_ic_1  bti_ic_12  ///
> bti_eos bti_eos2 bti_eos_1 bti_eos_12 pdevde_1 pstab_1 psave_1  orioil_1 origas_1 orimin_1 orinonc_1 ///
>  gpcr_eci gpcr_eci_1 pdevde_3 pdevde_5 pstab_3 pstab_5 psave_3 psave_5  orioil_3 orioil_5 ///
>  origas_3 origas_5 orimin_3 orimin_5 orinonc_3 orinonc_5 p_polity2_3 p_polity2_5 bci_bci_3 bci_bci_5 peterson_12 santiagobin , by( cowcode year)
{txt}
{com}.  
. *** Table 3. Summary statistics of variables in the regression analysis
. 
. sum dr_eg dr_pg bti_ic2 hasswf2_1 totalrentspcln_1 rgdppcln_1 p_polity2_1 ///
> bci_bci_1 dr_sg_1 pdevde_1  pstab_1 psave_1  orioil_1 origas_1 orimin_1 ///
> orinonc_1 linaburg2 bti_cps2 bti_eos2 gpcr_eci  

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 7}dr_eg {c |}{res}      7,471    48.79178    17.11903   9.741252   94.58176
{txt}{space 7}dr_pg {c |}{res}      7,599    56.86965    22.19531   5.625836   98.06131
{txt}{space 5}bti_ic2 {c |}{res}      2,077    6.692024    1.988183          1         10
{txt}{space 3}hasswf2_1 {c |}{res}     11,462    .1450009    .3521171          0          1
{txt}totalrents~1 {c |}{res}      7,154    13.33732    2.055818   .0789213    19.9771
{txt}{hline 13}{c +}{hline 57}
{space 2}rgdppcln_1 {c |}{res}      6,575    8.397121    1.099323   5.031514   11.49082
{txt}{space 1}p_polity2_1 {c |}{res}      9,098    .9405822    7.369969        -10         10
{txt}{space 3}bci_bci_1 {c |}{res}      5,560    48.68628    18.38254  -5.631394   78.94162
{txt}{space 5}dr_sg_1 {c |}{res}      7,584    46.12734    20.78097   6.281043   91.65661
{txt}{space 4}pdevde_1 {c |}{res}      1,662     .316956    .4334071          0          1
{txt}{hline 13}{c +}{hline 57}
{space 5}pstab_1 {c |}{res}      1,662    .2207273    .3960472          0          1
{txt}{space 5}psave_1 {c |}{res}      1,662    .5841666    .4396618          0          1
{txt}{space 4}orioil_1 {c |}{res}      1,662    .5236642    .4768167          0          1
{txt}{space 4}origas_1 {c |}{res}      1,662    .2712223    .4266889          0          1
{txt}{space 4}orimin_1 {c |}{res}      1,662     .116646    .3094644          0          1
{txt}{hline 13}{c +}{hline 57}
{space 3}orinonc_1 {c |}{res}      1,662    .3253345    .4546417          0          1
{txt}{space 3}linaburg2 {c |}{res}        273    6.227922    2.983312          1         10
{txt}{space 4}bti_cps2 {c |}{res}      2,079    6.780804    1.992203          1         10
{txt}{space 4}bti_eos2 {c |}{res}      2,079    6.126543    1.932237          1         10
{txt}{space 4}gpcr_eci {c |}{res}      3,495    .0181238    .9992344  -2.778437   2.858869
{txt}
{com}. 
. 
. *** Robustness Checks
. use "SWIFT_final_dataset_ISQ.dta", clear
{txt}
{com}. 
. drop if hasswf2==0
{txt}(9,911 observations deleted)

{com}. 
. xtset swf_num_id year
{res}{txt}{col 8}panel variable:  {res}swf_num_id (unbalanced)
{txt}{col 9}time variable:  {res}{col 25}year, 1932 to 2023, but with gaps
{txt}{col 17}delta:  {res}1 unit
{txt}
{com}. 
. *** Alternative measures of SWF governance (Online Appendix, Table 4, Column 1)
. xtreg peterson_1 pdevde_1 pstab_1 psave_1  orioil_1 origas_1 orimin_1 orinonc_1 p_polity2_1 bci_bci_1 i.year, re vce(cluster cowcode)
{res}
{txt}Random-effects GLS regression                   Number of obs     = {res}       152
{txt}Group variable: {res}swf_num_id                      {txt}Number of groups  = {res}        52

{txt}R-sq:                                           Obs per group:
     within  = {res}0.3703                                         {txt}min = {res}         1
{txt}     between = {res}0.4517                                         {txt}avg = {res}       2.9
{txt}     overall = {res}0.4379                                         {txt}max = {res}         5

                                                {txt}Wald chi2({res}14{txt})     =  {res}   451.27
{txt}corr(u_i, X)   = {res}0{txt} (assumed)                    Prob > chi2       =     {res}0.0000

{txt}{ralign 78:(Std. Err. adjusted for {res:33} clusters in cowcode)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}  peterson_1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}pdevde_1 {c |}{col 14}{res}{space 2}-.2013929{col 26}{space 2} .1225162{col 37}{space 1}   -1.64{col 46}{space 3}0.100{col 54}{space 4}-.4415204{col 67}{space 3} .0387345
{txt}{space 5}pstab_1 {c |}{col 14}{res}{space 2}   .11404{col 26}{space 2} .1526384{col 37}{space 1}    0.75{col 46}{space 3}0.455{col 54}{space 4}-.1851257{col 67}{space 3} .4132057
{txt}{space 5}psave_1 {c |}{col 14}{res}{space 2} -.019822{col 26}{space 2} .1596916{col 37}{space 1}   -0.12{col 46}{space 3}0.901{col 54}{space 4}-.3328117{col 67}{space 3} .2931678
{txt}{space 4}orioil_1 {c |}{col 14}{res}{space 2}-.1175624{col 26}{space 2} .2184578{col 37}{space 1}   -0.54{col 46}{space 3}0.590{col 54}{space 4}-.5457318{col 67}{space 3}  .310607
{txt}{space 4}origas_1 {c |}{col 14}{res}{space 2} .0288221{col 26}{space 2} .1990011{col 37}{space 1}    0.14{col 46}{space 3}0.885{col 54}{space 4}-.3612129{col 67}{space 3} .4188571
{txt}{space 4}orimin_1 {c |}{col 14}{res}{space 2} .0088844{col 26}{space 2} .0982845{col 37}{space 1}    0.09{col 46}{space 3}0.928{col 54}{space 4}-.1837496{col 67}{space 3} .2015184
{txt}{space 3}orinonc_1 {c |}{col 14}{res}{space 2} .0499291{col 26}{space 2} .1682014{col 37}{space 1}    0.30{col 46}{space 3}0.767{col 54}{space 4}-.2797396{col 67}{space 3} .3795977
{txt}{space 1}p_polity2_1 {c |}{col 14}{res}{space 2} .0276146{col 26}{space 2} .0098008{col 37}{space 1}    2.82{col 46}{space 3}0.005{col 54}{space 4} .0084054{col 67}{space 3} .0468237
{txt}{space 3}bci_bci_1 {c |}{col 14}{res}{space 2}-.0117004{col 26}{space 2}  .004646{col 37}{space 1}   -2.52{col 46}{space 3}0.012{col 54}{space 4}-.0208065{col 67}{space 3}-.0025943
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2010  {c |}{col 14}{res}{space 2} .1575888{col 26}{space 2} .0668613{col 37}{space 1}    2.36{col 46}{space 3}0.018{col 54}{space 4}  .026543{col 67}{space 3} .2886345
{txt}{space 7}2013  {c |}{col 14}{res}{space 2} .0647841{col 26}{space 2} .0852768{col 37}{space 1}    0.76{col 46}{space 3}0.447{col 54}{space 4}-.1023554{col 67}{space 3} .2319235
{txt}{space 7}2016  {c |}{col 14}{res}{space 2} .4190802{col 26}{space 2} .1036638{col 37}{space 1}    4.04{col 46}{space 3}0.000{col 54}{space 4}  .215903{col 67}{space 3} .6222575
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} .1630487{col 26}{space 2} .1624354{col 37}{space 1}    1.00{col 46}{space 3}0.315{col 54}{space 4}-.1553188{col 67}{space 3} .4814163
{txt}{space 7}2020  {c |}{col 14}{res}{space 2} .3745691{col 26}{space 2} .0807831{col 37}{space 1}    4.64{col 46}{space 3}0.000{col 54}{space 4} .2162372{col 67}{space 3} .5329011
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2}  4.19447{col 26}{space 2} .2689226{col 37}{space 1}   15.60{col 46}{space 3}0.000{col 54}{space 4} 3.667392{col 67}{space 3} 4.721549
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} .39378392
     {txt}sigma_e {c |} {res} .26339364
         {txt}rho {c |} {res} .69089469{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}

{com}. outreg2 using tab4.xls, replace ctitle(DV: Peterson institute Transparency index)  dec(3) label  e(all)  2aster
{txt}{browse `"tab4.xls"'}
{browse `"C:\ado\SWIFT"' :dir}{com} : {txt}{stata `"seeout using "tab4.txt", label"':seeout}

{com}. 
. *** 3-year lags (Online Appendix, Table 5, Column 1)
. 
. xtreg linaburg2  pdevde_3 pstab_3 psave_3  orioil_3 origas_3 orimin_3 orinonc_3 p_polity2_3 bci_bci_3 i.year, re vce(cluster cowcode)
{res}
{txt}Random-effects GLS regression                   Number of obs     = {res}       289
{txt}Group variable: {res}swf_num_id                      {txt}Number of groups  = {res}        64

{txt}R-sq:                                           Obs per group:
     within  = {res}0.4417                                         {txt}min = {res}         1
{txt}     between = {res}0.4679                                         {txt}avg = {res}       4.5
{txt}     overall = {res}0.4157                                         {txt}max = {res}        12

                                                {txt}{help j_robustsingular##|_new:Wald chi2(23)}{col 67}={col 70}{res}        .
{txt}corr(u_i, X)   = {res}0{txt} (assumed)                    Prob > chi2       =     {res}     .

{txt}{ralign 78:(Std. Err. adjusted for {res:34} clusters in cowcode)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}   linaburg2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}pdevde_3 {c |}{col 14}{res}{space 2} .2137324{col 26}{space 2} .4992028{col 37}{space 1}    0.43{col 46}{space 3}0.669{col 54}{space 4}-.7646871{col 67}{space 3} 1.192152
{txt}{space 5}pstab_3 {c |}{col 14}{res}{space 2} 1.798741{col 26}{space 2} .6682483{col 37}{space 1}    2.69{col 46}{space 3}0.007{col 54}{space 4} .4889988{col 67}{space 3} 3.108484
{txt}{space 5}psave_3 {c |}{col 14}{res}{space 2}-.0969054{col 26}{space 2}   .98794{col 37}{space 1}   -0.10{col 46}{space 3}0.922{col 54}{space 4}-2.033232{col 67}{space 3} 1.839421
{txt}{space 4}orioil_3 {c |}{col 14}{res}{space 2}-.3992521{col 26}{space 2} .5937714{col 37}{space 1}   -0.67{col 46}{space 3}0.501{col 54}{space 4}-1.563023{col 67}{space 3} .7645185
{txt}{space 4}origas_3 {c |}{col 14}{res}{space 2}-.3162553{col 26}{space 2} .9475864{col 37}{space 1}   -0.33{col 46}{space 3}0.739{col 54}{space 4} -2.17349{col 67}{space 3}  1.54098
{txt}{space 4}orimin_3 {c |}{col 14}{res}{space 2}  1.83055{col 26}{space 2} .7698372{col 37}{space 1}    2.38{col 46}{space 3}0.017{col 54}{space 4} .3216965{col 67}{space 3} 3.339403
{txt}{space 3}orinonc_3 {c |}{col 14}{res}{space 2} .6527766{col 26}{space 2} .7321148{col 37}{space 1}    0.89{col 46}{space 3}0.373{col 54}{space 4}-.7821421{col 67}{space 3} 2.087695
{txt}{space 1}p_polity2_3 {c |}{col 14}{res}{space 2} .1178364{col 26}{space 2} .0411682{col 37}{space 1}    2.86{col 46}{space 3}0.004{col 54}{space 4} .0371483{col 67}{space 3} .1985245
{txt}{space 3}bci_bci_3 {c |}{col 14}{res}{space 2} -.054953{col 26}{space 2} .0140106{col 37}{space 1}   -3.92{col 46}{space 3}0.000{col 54}{space 4}-.0824132{col 67}{space 3}-.0274928
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2006  {c |}{col 14}{res}{space 2} 2.321799{col 26}{space 2} .7167636{col 37}{space 1}    3.24{col 46}{space 3}0.001{col 54}{space 4} .9169676{col 67}{space 3} 3.726629
{txt}{space 7}2007  {c |}{col 14}{res}{space 2} .2390284{col 26}{space 2} .6179095{col 37}{space 1}    0.39{col 46}{space 3}0.699{col 54}{space 4}-.9720519{col 67}{space 3} 1.450109
{txt}{space 7}2008  {c |}{col 14}{res}{space 2} 2.324127{col 26}{space 2} .2763112{col 37}{space 1}    8.41{col 46}{space 3}0.000{col 54}{space 4} 1.782567{col 67}{space 3} 2.865687
{txt}{space 7}2009  {c |}{col 14}{res}{space 2} 2.658701{col 26}{space 2}  .202711{col 37}{space 1}   13.12{col 46}{space 3}0.000{col 54}{space 4} 2.261394{col 67}{space 3} 3.056007
{txt}{space 7}2010  {c |}{col 14}{res}{space 2} 2.710341{col 26}{space 2} .3496756{col 37}{space 1}    7.75{col 46}{space 3}0.000{col 54}{space 4} 2.024989{col 67}{space 3} 3.395692
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} 3.426541{col 26}{space 2} .2156628{col 37}{space 1}   15.89{col 46}{space 3}0.000{col 54}{space 4}  3.00385{col 67}{space 3} 3.849232
{txt}{space 7}2012  {c |}{col 14}{res}{space 2} 4.163223{col 26}{space 2} .2564229{col 37}{space 1}   16.24{col 46}{space 3}0.000{col 54}{space 4} 3.660644{col 67}{space 3} 4.665803
{txt}{space 7}2013  {c |}{col 14}{res}{space 2} 3.995212{col 26}{space 2} .2548829{col 37}{space 1}   15.67{col 46}{space 3}0.000{col 54}{space 4} 3.495651{col 67}{space 3} 4.494774
{txt}{space 7}2014  {c |}{col 14}{res}{space 2} 3.853002{col 26}{space 2} .2628095{col 37}{space 1}   14.66{col 46}{space 3}0.000{col 54}{space 4} 3.337905{col 67}{space 3}   4.3681
{txt}{space 7}2015  {c |}{col 14}{res}{space 2}  4.27085{col 26}{space 2} .4338479{col 37}{space 1}    9.84{col 46}{space 3}0.000{col 54}{space 4} 3.420524{col 67}{space 3} 5.121176
{txt}{space 7}2016  {c |}{col 14}{res}{space 2} 4.197099{col 26}{space 2} .4077542{col 37}{space 1}   10.29{col 46}{space 3}0.000{col 54}{space 4} 3.397915{col 67}{space 3} 4.996282
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} 4.001487{col 26}{space 2} .2537981{col 37}{space 1}   15.77{col 46}{space 3}0.000{col 54}{space 4} 3.504051{col 67}{space 3} 4.498922
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} 3.940608{col 26}{space 2} .2112092{col 37}{space 1}   18.66{col 46}{space 3}0.000{col 54}{space 4} 3.526645{col 67}{space 3}  4.35457
{txt}{space 7}2021  {c |}{col 14}{res}{space 2} 3.774061{col 26}{space 2} .2586608{col 37}{space 1}   14.59{col 46}{space 3}0.000{col 54}{space 4} 3.267095{col 67}{space 3} 4.281026
{txt}{space 7}2022  {c |}{col 14}{res}{space 2} 4.276498{col 26}{space 2} .2601565{col 37}{space 1}   16.44{col 46}{space 3}0.000{col 54}{space 4} 3.766601{col 67}{space 3} 4.786396
{txt}{space 7}2023  {c |}{col 14}{res}{space 2} 4.530248{col 26}{space 2}  .310293{col 37}{space 1}   14.60{col 46}{space 3}0.000{col 54}{space 4} 3.922085{col 67}{space 3} 5.138411
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 4.259167{col 26}{space 2} .8912435{col 37}{space 1}    4.78{col 46}{space 3}0.000{col 54}{space 4} 2.512362{col 67}{space 3} 6.005972
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} 1.9907876
     {txt}sigma_e {c |} {res}  .9151656
         {txt}rho {c |} {res} .82554273{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}

{com}. outreg2 using tab5rob_3.xls, replace ctitle(DV: Linaburg-Maduell Transparency Index)  dec(3) label  e(all)  2aster
{txt}{browse `"tab5rob_3.xls"'}
{browse `"C:\ado\SWIFT"' :dir}{com} : {txt}{stata `"seeout using "tab5rob_3.txt", label"':seeout}

{com}. 
. *** 5-year lags (Online Appendix, Table 5, Column 5)
. xtreg linaburg2  pdevde_5 pstab_5 psave_5  orioil_5 origas_5 orimin_5 orinonc_5 p_polity2_5 bci_bci_5 i.year, re vce(cluster cowcode)
{res}
{txt}Random-effects GLS regression                   Number of obs     = {res}       338
{txt}Group variable: {res}swf_num_id                      {txt}Number of groups  = {res}        61

{txt}R-sq:                                           Obs per group:
     within  = {res}0.4110                                         {txt}min = {res}         1
{txt}     between = {res}0.3971                                         {txt}avg = {res}       5.5
{txt}     overall = {res}0.3239                                         {txt}max = {res}        14

                                                {txt}Wald chi2({res}25{txt})     =  {res} 3.96e+06
{txt}corr(u_i, X)   = {res}0{txt} (assumed)                    Prob > chi2       =     {res}0.0000

{txt}{ralign 78:(Std. Err. adjusted for {res:34} clusters in cowcode)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}   linaburg2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}pdevde_5 {c |}{col 14}{res}{space 2} .3308761{col 26}{space 2} .3409113{col 37}{space 1}    0.97{col 46}{space 3}0.332{col 54}{space 4}-.3372979{col 67}{space 3}   .99905
{txt}{space 5}pstab_5 {c |}{col 14}{res}{space 2} 2.329862{col 26}{space 2} .7342868{col 37}{space 1}    3.17{col 46}{space 3}0.002{col 54}{space 4} .8906863{col 67}{space 3} 3.769037
{txt}{space 5}psave_5 {c |}{col 14}{res}{space 2}-.2811382{col 26}{space 2} .8949278{col 37}{space 1}   -0.31{col 46}{space 3}0.753{col 54}{space 4}-2.035164{col 67}{space 3} 1.472888
{txt}{space 4}orioil_5 {c |}{col 14}{res}{space 2}-.6584916{col 26}{space 2} .5367967{col 37}{space 1}   -1.23{col 46}{space 3}0.220{col 54}{space 4}-1.710594{col 67}{space 3} .3936106
{txt}{space 4}origas_5 {c |}{col 14}{res}{space 2}-.0164111{col 26}{space 2} 1.094057{col 37}{space 1}   -0.02{col 46}{space 3}0.988{col 54}{space 4}-2.160724{col 67}{space 3} 2.127901
{txt}{space 4}orimin_5 {c |}{col 14}{res}{space 2} 1.119114{col 26}{space 2} .7600392{col 37}{space 1}    1.47{col 46}{space 3}0.141{col 54}{space 4} -.370536{col 67}{space 3} 2.608763
{txt}{space 3}orinonc_5 {c |}{col 14}{res}{space 2}-.3303734{col 26}{space 2} .6162227{col 37}{space 1}   -0.54{col 46}{space 3}0.592{col 54}{space 4}-1.538148{col 67}{space 3} .8774008
{txt}{space 1}p_polity2_5 {c |}{col 14}{res}{space 2} .1158364{col 26}{space 2}  .065453{col 37}{space 1}    1.77{col 46}{space 3}0.077{col 54}{space 4}-.0124492{col 67}{space 3}  .244122
{txt}{space 3}bci_bci_5 {c |}{col 14}{res}{space 2}  -.05775{col 26}{space 2} .0155849{col 37}{space 1}   -3.71{col 46}{space 3}0.000{col 54}{space 4}-.0882957{col 67}{space 3}-.0272042
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2006  {c |}{col 14}{res}{space 2} 1.860145{col 26}{space 2} .6293267{col 37}{space 1}    2.96{col 46}{space 3}0.003{col 54}{space 4} .6266871{col 67}{space 3} 3.093602
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}-1.026547{col 26}{space 2} .6075674{col 37}{space 1}   -1.69{col 46}{space 3}0.091{col 54}{space 4}-2.217357{col 67}{space 3} .1642631
{txt}{space 7}2008  {c |}{col 14}{res}{space 2} 1.463066{col 26}{space 2} .2547672{col 37}{space 1}    5.74{col 46}{space 3}0.000{col 54}{space 4}  .963732{col 67}{space 3} 1.962401
{txt}{space 7}2009  {c |}{col 14}{res}{space 2} 1.332011{col 26}{space 2}  .332197{col 37}{space 1}    4.01{col 46}{space 3}0.000{col 54}{space 4} .6809166{col 67}{space 3} 1.983105
{txt}{space 7}2010  {c |}{col 14}{res}{space 2} 1.370264{col 26}{space 2} .4612143{col 37}{space 1}    2.97{col 46}{space 3}0.003{col 54}{space 4} .4663004{col 67}{space 3} 2.274227
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} 2.316026{col 26}{space 2} .2284509{col 37}{space 1}   10.14{col 46}{space 3}0.000{col 54}{space 4} 1.868271{col 67}{space 3} 2.763782
{txt}{space 7}2012  {c |}{col 14}{res}{space 2} 2.910997{col 26}{space 2} .2724511{col 37}{space 1}   10.68{col 46}{space 3}0.000{col 54}{space 4} 2.377003{col 67}{space 3} 3.444992
{txt}{space 7}2013  {c |}{col 14}{res}{space 2} 2.757842{col 26}{space 2} .2753877{col 37}{space 1}   10.01{col 46}{space 3}0.000{col 54}{space 4} 2.218092{col 67}{space 3} 3.297592
{txt}{space 7}2014  {c |}{col 14}{res}{space 2} 2.721171{col 26}{space 2} .2916299{col 37}{space 1}    9.33{col 46}{space 3}0.000{col 54}{space 4} 2.149587{col 67}{space 3} 3.292755
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} 2.667276{col 26}{space 2} .1683996{col 37}{space 1}   15.84{col 46}{space 3}0.000{col 54}{space 4} 2.337219{col 67}{space 3} 2.997333
{txt}{space 7}2016  {c |}{col 14}{res}{space 2} 2.744401{col 26}{space 2} .1778301{col 37}{space 1}   15.43{col 46}{space 3}0.000{col 54}{space 4} 2.395861{col 67}{space 3} 3.092942
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} 3.054965{col 26}{space 2} .3670831{col 37}{space 1}    8.32{col 46}{space 3}0.000{col 54}{space 4} 2.335496{col 67}{space 3} 3.774435
{txt}{space 7}2018  {c |}{col 14}{res}{space 2}  2.84466{col 26}{space 2} .2148446{col 37}{space 1}   13.24{col 46}{space 3}0.000{col 54}{space 4} 2.423573{col 67}{space 3} 3.265748
{txt}{space 7}2021  {c |}{col 14}{res}{space 2} 2.702371{col 26}{space 2} .2310423{col 37}{space 1}   11.70{col 46}{space 3}0.000{col 54}{space 4} 2.249536{col 67}{space 3} 3.155205
{txt}{space 7}2022  {c |}{col 14}{res}{space 2}  2.75286{col 26}{space 2} .2267825{col 37}{space 1}   12.14{col 46}{space 3}0.000{col 54}{space 4} 2.308374{col 67}{space 3} 3.197345
{txt}{space 7}2023  {c |}{col 14}{res}{space 2} 2.796465{col 26}{space 2} .2059251{col 37}{space 1}   13.58{col 46}{space 3}0.000{col 54}{space 4} 2.392859{col 67}{space 3} 3.200071
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 5.923232{col 26}{space 2} .9799675{col 37}{space 1}    6.04{col 46}{space 3}0.000{col 54}{space 4} 4.002531{col 67}{space 3} 7.843933
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} 2.0986656
     {txt}sigma_e {c |} {res} .77324315
         {txt}rho {c |} {res} .88047404{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}

{com}. outreg2 using tab5rob_5.xls, replace ctitle(DV: Linaburg-Maduell Transparency Index)  dec(3) label  e(all)  2aster
{txt}{browse `"tab5rob_5.xls"'}
{browse `"C:\ado\SWIFT"' :dir}{com} : {txt}{stata `"seeout using "tab5rob_5.txt", label"':seeout}

{com}. 
. *** xtscc (Online Appendix, Table 6, Column 1)
. xtscc linaburg2  pdevde_1 pstab_1 psave_1  orioil_1 origas_1 orimin_1 orinonc_1 p_polity2_1 bci_bci_1 i.year, re 
{txt}(2,526 missing values generated)
{res}
{txt}Regression with Driscoll-Kraay standard errors{col 50}Number of obs     ={res}       259
{txt}Method: {res}Random-effects GLS regression{col 50}{txt}Number of groups  ={res}        62
{txt}Group variable (i): {res}swf_num_id{col 50}{txt}Wald chi2({res}22{txt}){col 68}={res} 213079.76
{txt}maximum lag: {res}2{col 50}{txt}Prob > chi2       =    {res}0.0000
{txt}corr(u_i, Xb) = {res}0 {txt}(assumed){col 50}overall R-squared =    {res}0.4442

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}  Drisc/Kraay
{col 1}   linaburg2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}pdevde_1 {c |}{col 14}{res}{space 2}-.0085169{col 26}{space 2} .7276193{col 37}{space 1}   -0.01{col 46}{space 3}0.991{col 54}{space 4}-1.559401{col 67}{space 3} 1.542367
{txt}{space 5}pstab_1 {c |}{col 14}{res}{space 2} .4724466{col 26}{space 2} .3818067{col 37}{space 1}    1.24{col 46}{space 3}0.235{col 54}{space 4}-.3413552{col 67}{space 3} 1.286248
{txt}{space 5}psave_1 {c |}{col 14}{res}{space 2} .4626607{col 26}{space 2} .5273808{col 37}{space 1}    0.88{col 46}{space 3}0.394{col 54}{space 4}-.6614249{col 67}{space 3} 1.586746
{txt}{space 4}orioil_1 {c |}{col 14}{res}{space 2} .3253321{col 26}{space 2} .5462524{col 37}{space 1}    0.60{col 46}{space 3}0.560{col 54}{space 4}-.8389775{col 67}{space 3} 1.489642
{txt}{space 4}origas_1 {c |}{col 14}{res}{space 2} .1020398{col 26}{space 2} .5448074{col 37}{space 1}    0.19{col 46}{space 3}0.854{col 54}{space 4} -1.05919{col 67}{space 3} 1.263269
{txt}{space 4}orimin_1 {c |}{col 14}{res}{space 2} 1.026583{col 26}{space 2} .6336456{col 37}{space 1}    1.62{col 46}{space 3}0.126{col 54}{space 4}-.3240002{col 67}{space 3} 2.377167
{txt}{space 3}orinonc_1 {c |}{col 14}{res}{space 2} 1.985095{col 26}{space 2}   .83838{col 37}{space 1}    2.37{col 46}{space 3}0.032{col 54}{space 4} .1981307{col 67}{space 3}  3.77206
{txt}{space 1}p_polity2_1 {c |}{col 14}{res}{space 2} .1183625{col 26}{space 2} .0319637{col 37}{space 1}    3.70{col 46}{space 3}0.002{col 54}{space 4} .0502335{col 67}{space 3} .1864914
{txt}{space 3}bci_bci_1 {c |}{col 14}{res}{space 2}-.0537354{col 26}{space 2} .0141632{col 37}{space 1}   -3.79{col 46}{space 3}0.002{col 54}{space 4}-.0839236{col 67}{space 3}-.0235471
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}1932  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (empty)
{space 7}1933  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1934  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1935  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1936  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1937  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1938  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1939  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1940  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1941  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1942  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1943  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1944  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1945  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1946  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1947  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1948  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1949  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1950  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1951  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1952  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1953  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1954  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1955  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1956  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1957  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1958  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1959  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1960  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1961  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1962  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1963  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1964  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1965  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1966  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1967  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1968  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1969  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1970  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1971  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1972  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1973  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1974  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1975  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1976  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1977  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1978  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1979  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1980  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1981  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1982  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1983  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1984  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1985  {c |}{col 14}{res}{space 2} 7.748205{col 26}{space 2} 1.427034{col 37}{space 1}    5.43{col 46}{space 3}0.000{col 54}{space 4} 4.706553{col 67}{space 3} 10.78986
{txt}{space 7}1986  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1987  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1988  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1989  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1990  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1991  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1992  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1993  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1994  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1995  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1996  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1997  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1998  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1999  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2000  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2001  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2002  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2003  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2004  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2005  {c |}{col 14}{res}{space 2} 3.419696{col 26}{space 2} 1.368356{col 37}{space 1}    2.50{col 46}{space 3}0.025{col 54}{space 4} .5031144{col 67}{space 3} 6.336279
{txt}{space 7}2006  {c |}{col 14}{res}{space 2} 5.916027{col 26}{space 2}  1.04332{col 37}{space 1}    5.67{col 46}{space 3}0.000{col 54}{space 4} 3.692243{col 67}{space 3}  8.13981
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}  3.95227{col 26}{space 2} 1.130958{col 37}{space 1}    3.49{col 46}{space 3}0.003{col 54}{space 4}  1.54169{col 67}{space 3}  6.36285
{txt}{space 7}2008  {c |}{col 14}{res}{space 2} 5.558027{col 26}{space 2} 1.200316{col 37}{space 1}    4.63{col 46}{space 3}0.000{col 54}{space 4} 2.999614{col 67}{space 3}  8.11644
{txt}{space 7}2009  {c |}{col 14}{res}{space 2}  5.66812{col 26}{space 2} 1.364034{col 37}{space 1}    4.16{col 46}{space 3}0.001{col 54}{space 4} 2.760751{col 67}{space 3}  8.57549
{txt}{space 7}2010  {c |}{col 14}{res}{space 2} 6.170917{col 26}{space 2} 1.217906{col 37}{space 1}    5.07{col 46}{space 3}0.000{col 54}{space 4} 3.575013{col 67}{space 3} 8.766821
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} 6.825526{col 26}{space 2} 1.196345{col 37}{space 1}    5.71{col 46}{space 3}0.000{col 54}{space 4} 4.275578{col 67}{space 3} 9.375475
{txt}{space 7}2012  {c |}{col 14}{res}{space 2} 7.458977{col 26}{space 2} 1.169932{col 37}{space 1}    6.38{col 46}{space 3}0.000{col 54}{space 4} 4.965325{col 67}{space 3} 9.952629
{txt}{space 7}2013  {c |}{col 14}{res}{space 2} 7.355878{col 26}{space 2} 1.162406{col 37}{space 1}    6.33{col 46}{space 3}0.000{col 54}{space 4} 4.878268{col 67}{space 3} 9.833488
{txt}{space 7}2014  {c |}{col 14}{res}{space 2} 7.177595{col 26}{space 2} 1.167921{col 37}{space 1}    6.15{col 46}{space 3}0.000{col 54}{space 4}  4.68823{col 67}{space 3} 9.666961
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} 7.448315{col 26}{space 2}  1.11398{col 37}{space 1}    6.69{col 46}{space 3}0.000{col 54}{space 4} 5.073923{col 67}{space 3} 9.822707
{txt}{space 7}2016  {c |}{col 14}{res}{space 2} 7.365914{col 26}{space 2} 1.099685{col 37}{space 1}    6.70{col 46}{space 3}0.000{col 54}{space 4} 5.021991{col 67}{space 3} 9.709838
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} 7.243454{col 26}{space 2} 1.178288{col 37}{space 1}    6.15{col 46}{space 3}0.000{col 54}{space 4} 4.731993{col 67}{space 3} 9.754914
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} 7.309163{col 26}{space 2} 1.183034{col 37}{space 1}    6.18{col 46}{space 3}0.000{col 54}{space 4} 4.787586{col 67}{space 3}  9.83074
{txt}{space 7}2019  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2020  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2021  {c |}{col 14}{res}{space 2} 7.773767{col 26}{space 2} 1.282483{col 37}{space 1}    6.06{col 46}{space 3}0.000{col 54}{space 4} 5.040219{col 67}{space 3} 10.50731
{txt}{space 7}2022  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2023  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} 1.8907243
     {txt}sigma_e {c |} {res} .97589963
         {txt}rho {c |} {res} .78963239{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}


{com}. outreg2 using tab6.xls, replace ctitle(DV: Linaburg-Maduell Transparency Index)  dec(3) label  e(all)  2aster
{txt}{browse `"tab6.xls"'}
{browse `"C:\ado\SWIFT"' :dir}{com} : {txt}{stata `"seeout using "tab6.txt", label"':seeout}

{com}. 
. 
. 
. use "SWIFT_final_dataset_ISQ.dta", clear
{txt}
{com}. 
. collapse (mean) hasswf hasswf2 hasswf2_1 hasswf2_3  hasswf2_5  feregion2 assetsbn2010 assetspc2010ln_1  linaburg ///
> linaburg2 linaburg_12  p_polity2 totalrentspcln_1 totalrentspcln_3 totalrentspcln_5  dr_eg dr_eg_1 dr_pg dr_pg_1 dr_sg_1   dr_sg_3 dr_sg_5 rgdppcln_1 ///
> rgdppcln_3 rgdppcln_5 p_polity2_1 bci_bci_1 bti_cps bti_cps2 bti_cps_1  bti_cps_12 bti_ic bti_ic2 bti_ic_1  bti_ic_12  ///
> bti_eos bti_eos2 bti_eos_1 bti_eos_12 pdevde_1 pstab_1 psave_1  orioil_1 origas_1 orimin_1 orinonc_1 ///
>  gpcr_eci gpcr_eci_1 pdevde_3 pdevde_5 pstab_3 pstab_5 psave_3 psave_5  orioil_3 orioil_5 ///
>  origas_3 origas_5 orimin_3 orimin_5 orinonc_3 orinonc_5 p_polity2_3 p_polity2_5 bci_bci_3 bci_bci_5 peterson_12 santiagobin , by( cowcode year)
{txt}
{com}.  
.   
. drop if hasswf2==0
{txt}(9,911 observations deleted)

{com}. xtset cowcode year
{res}{txt}{col 8}panel variable:  {res}cowcode (unbalanced)
{txt}{col 9}time variable:  {res}{col 25}year, 1932 to 2023, but with a gap
{txt}{col 17}delta:  {res}1 unit
{txt}
{com}. 
. *** alternative measures of SWF governance (Online Appendix, Table 4, Column 2)
. xtlogit santiagobin pdevde_1 pstab_1 psave_1  orioil_1 origas_1 orimin_1 orinonc_1 p_polity2_1 bci_bci_1 i.year, re vce(cluster cowcode)
{txt}note: 2020.year != 0 predicts success perfectly
      2020.year dropped and 2 obs not used

note: 2021.year != 0 predicts success perfectly
      2021.year dropped and 1 obs not used


Fitting comparison model:

{res}{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-336.43095}  
Iteration 1:{space 3}log pseudolikelihood = {res:-277.70927}  
Iteration 2:{space 3}log pseudolikelihood = {res:-274.23162}  
Iteration 3:{space 3}log pseudolikelihood = {res:-274.20967}  
Iteration 4:{space 3}log pseudolikelihood = {res:-274.20967}  
{res}
{txt}Fitting full model:

tau = {res} 0.0     {txt}log pseudolikelihood = {res}-274.20967
{txt}tau = {res} 0.1     {txt}log pseudolikelihood = {res}-247.80559
{txt}tau = {res} 0.2     {txt}log pseudolikelihood = {res}-226.69717
{txt}tau = {res} 0.3     {txt}log pseudolikelihood = {res}-209.36864
{txt}tau = {res} 0.4     {txt}log pseudolikelihood = {res}-194.73899
{txt}tau = {res} 0.5     {txt}log pseudolikelihood = {res}-182.08485
{txt}tau = {res} 0.6     {txt}log pseudolikelihood = {res}-170.94186
{txt}tau = {res} 0.7     {txt}log pseudolikelihood = {res}-161.08176
{txt}tau = {res} 0.8     {txt}log pseudolikelihood = {res}-152.44007

{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-161.01456}  
Iteration 1:{space 3}log pseudolikelihood = {res:-126.95106}  
Iteration 2:{space 3}log pseudolikelihood = {res:-121.52488}  
Iteration 3:{space 3}log pseudolikelihood = {res:-118.17743}  
Iteration 4:{space 3}log pseudolikelihood = {res:-118.17105}  
Iteration 5:{space 3}log pseudolikelihood = {res:-118.11309}  (not concave)
Iteration 6:{space 3}log pseudolikelihood = {res: -118.1057}  (not concave)
Iteration 7:{space 3}log pseudolikelihood = {res: -118.1057}  (not concave)
Iteration 8:{space 3}log pseudolikelihood = {res:-118.06576}  
Iteration 9:{space 3}log pseudolikelihood = {res:-118.04905}  
Iteration 10:{space 2}log pseudolikelihood = {res:-118.03056}  
Iteration 11:{space 2}log pseudolikelihood = {res:-118.03045}  
Iteration 12:{space 2}log pseudolikelihood = {res:-118.03045}  
{res}
{txt}Calculating robust standard errors:

Random-effects logistic regression{col 49}Number of obs{col 67}={col 69}{res}       567
{txt}Group variable: {res}cowcode{col 49}{txt}Number of groups{col 67}={col 69}{res}        64

{txt}Random effects u_i ~ {res}Gaussian{txt}{col 49}Obs per group:
{col 63}min{col 67}={col 69}{res}         1
{txt}{col 63}avg{col 67}={col 69}{res}       8.9
{txt}{col 63}max{col 67}={col 69}{res}        11

{txt}Integration method: {res}mvaghermite{txt}{col 49}Integration pts.{col 67}={col 70}{res}       12

{txt}{col 49}Wald chi2({res}18{txt}){col 67}={col 70}{res}        .
{txt}Log pseudolikelihood  = {res}-118.03045{col 49}{txt}Prob > chi2{col 67}={res}{col 73}     .

{txt}{ralign 78:(Std. Err. adjusted for {res:64} clusters in cowcode)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} santiagobin{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}pdevde_1 {c |}{col 14}{res}{space 2}  1.63347{col 26}{space 2} 14.17434{col 37}{space 1}    0.12{col 46}{space 3}0.908{col 54}{space 4}-26.14772{col 67}{space 3} 29.41466
{txt}{space 5}pstab_1 {c |}{col 14}{res}{space 2}-1.429152{col 26}{space 2} 10.87066{col 37}{space 1}   -0.13{col 46}{space 3}0.895{col 54}{space 4}-22.73526{col 67}{space 3} 19.87695
{txt}{space 5}psave_1 {c |}{col 14}{res}{space 2} 8.559262{col 26}{space 2} 8.606681{col 37}{space 1}    0.99{col 46}{space 3}0.320{col 54}{space 4}-8.309522{col 67}{space 3} 25.42805
{txt}{space 4}orioil_1 {c |}{col 14}{res}{space 2} 8.298355{col 26}{space 2} 4.440269{col 37}{space 1}    1.87{col 46}{space 3}0.062{col 54}{space 4}-.4044121{col 67}{space 3} 17.00112
{txt}{space 4}origas_1 {c |}{col 14}{res}{space 2}-7.439618{col 26}{space 2} 20.27312{col 37}{space 1}   -0.37{col 46}{space 3}0.714{col 54}{space 4}-47.17421{col 67}{space 3} 32.29497
{txt}{space 4}orimin_1 {c |}{col 14}{res}{space 2} 2.866862{col 26}{space 2}        .{col 37}{space 1}       .{col 46}{space 3}    .{col 54}{space 4}        .{col 67}{space 3}        .
{txt}{space 3}orinonc_1 {c |}{col 14}{res}{space 2}  4.88329{col 26}{space 2} 12.81563{col 37}{space 1}    0.38{col 46}{space 3}0.703{col 54}{space 4}-20.23488{col 67}{space 3} 30.00146
{txt}{space 1}p_polity2_1 {c |}{col 14}{res}{space 2} .1031457{col 26}{space 2} 2.732476{col 37}{space 1}    0.04{col 46}{space 3}0.970{col 54}{space 4}-5.252409{col 67}{space 3} 5.458701
{txt}{space 3}bci_bci_1 {c |}{col 14}{res}{space 2}-.0660019{col 26}{space 2} .3224398{col 37}{space 1}   -0.20{col 46}{space 3}0.838{col 54}{space 4}-.6979723{col 67}{space 3} .5659685
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2010  {c |}{col 14}{res}{space 2} 3.110394{col 26}{space 2} 3.156604{col 37}{space 1}    0.99{col 46}{space 3}0.324{col 54}{space 4}-3.076436{col 67}{space 3} 9.297225
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} 3.233078{col 26}{space 2} 3.369004{col 37}{space 1}    0.96{col 46}{space 3}0.337{col 54}{space 4}-3.370048{col 67}{space 3} 9.836205
{txt}{space 7}2012  {c |}{col 14}{res}{space 2} 2.257832{col 26}{space 2} 3.023115{col 37}{space 1}    0.75{col 46}{space 3}0.455{col 54}{space 4}-3.667364{col 67}{space 3} 8.183029
{txt}{space 7}2013  {c |}{col 14}{res}{space 2} 1.525349{col 26}{space 2} 3.165135{col 37}{space 1}    0.48{col 46}{space 3}0.630{col 54}{space 4}-4.678201{col 67}{space 3} 7.728899
{txt}{space 7}2014  {c |}{col 14}{res}{space 2} 3.380151{col 26}{space 2} 3.416046{col 37}{space 1}    0.99{col 46}{space 3}0.322{col 54}{space 4}-3.315177{col 67}{space 3} 10.07548
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} 3.321856{col 26}{space 2} 3.392737{col 37}{space 1}    0.98{col 46}{space 3}0.328{col 54}{space 4}-3.327787{col 67}{space 3} 9.971499
{txt}{space 7}2016  {c |}{col 14}{res}{space 2} 3.779434{col 26}{space 2} 3.385989{col 37}{space 1}    1.12{col 46}{space 3}0.264{col 54}{space 4}-2.856982{col 67}{space 3} 10.41585
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} 3.363679{col 26}{space 2} 3.636073{col 37}{space 1}    0.93{col 46}{space 3}0.355{col 54}{space 4}-3.762892{col 67}{space 3} 10.49025
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} 3.332794{col 26}{space 2} 3.666045{col 37}{space 1}    0.91{col 46}{space 3}0.363{col 54}{space 4}-3.852522{col 67}{space 3} 10.51811
{txt}{space 7}2019  {c |}{col 14}{res}{space 2} 8.880989{col 26}{space 2} 4.140259{col 37}{space 1}    2.15{col 46}{space 3}0.032{col 54}{space 4} .7662297{col 67}{space 3} 16.99575
{txt}{space 7}2020  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (empty)
{space 7}2021  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (empty)
{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2}-15.46174{col 26}{space 2} 17.66324{col 37}{space 1}   -0.88{col 46}{space 3}0.381{col 54}{space 4}-50.08104{col 67}{space 3} 19.15757
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
    /lnsig2u {c |}{col 14}{res}{space 2} 4.012305{col 26}{space 2} 4.317396{col 54}{space 4}-4.449636{col 67}{space 3} 12.47425
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |}{col 14}{res}{space 2} 7.434656{col 26}{space 2} 16.04918{col 54}{space 4} .1080871{col 67}{space 3} 511.3849
{txt}         rho {c |}{col 14}{res}{space 2} .9438244{col 26}{space 2}  .228908{col 54}{space 4} .0035386{col 67}{space 3} .9999874
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

{com}. outreg2 using tab4.xls, append ctitle(DV: santiagobin)  dec(3) label  e(all)  2aster
{txt}{browse `"tab4.xls"'}
{browse `"C:\ado\SWIFT"' :dir}{com} : {txt}{stata `"seeout using "tab4.txt", label"':seeout}

{com}. 
. *** 3-year lags (Online Appendix, Table 5, Columns 2-4)
. 
. xtreg bti_cps2  pdevde_3 pstab_3 psave_3  orioil_3 origas_3 orimin_3 orinonc_3 p_polity2_3 bci_bci_3 i.year, re vce(cluster cowcode)
{res}
{txt}Random-effects GLS regression                   Number of obs     = {res}       521
{txt}Group variable: {res}cowcode                         {txt}Number of groups  = {res}        50

{txt}R-sq:                                           Obs per group:
     within  = {res}0.2101                                         {txt}min = {res}         1
{txt}     between = {res}0.2839                                         {txt}avg = {res}      10.4
{txt}     overall = {res}0.3494                                         {txt}max = {res}        17

                                                {txt}Wald chi2({res}25{txt})     =  {res}   166.57
{txt}corr(u_i, X)   = {res}0{txt} (assumed)                    Prob > chi2       =     {res}0.0000

{txt}{ralign 78:(Std. Err. adjusted for {res:50} clusters in cowcode)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}    bti_cps2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}pdevde_3 {c |}{col 14}{res}{space 2} .1208106{col 26}{space 2} .2206982{col 37}{space 1}    0.55{col 46}{space 3}0.584{col 54}{space 4}  -.31175{col 67}{space 3} .5533712
{txt}{space 5}pstab_3 {c |}{col 14}{res}{space 2}-.6356276{col 26}{space 2} .2543248{col 37}{space 1}   -2.50{col 46}{space 3}0.012{col 54}{space 4}-1.134095{col 67}{space 3}-.1371602
{txt}{space 5}psave_3 {c |}{col 14}{res}{space 2}-.1475423{col 26}{space 2} .3816865{col 37}{space 1}   -0.39{col 46}{space 3}0.699{col 54}{space 4} -.895634{col 67}{space 3} .6005494
{txt}{space 4}orioil_3 {c |}{col 14}{res}{space 2} .0126488{col 26}{space 2}  .620828{col 37}{space 1}    0.02{col 46}{space 3}0.984{col 54}{space 4}-1.204152{col 67}{space 3} 1.229449
{txt}{space 4}origas_3 {c |}{col 14}{res}{space 2}-.4100105{col 26}{space 2} .2906264{col 37}{space 1}   -1.41{col 46}{space 3}0.158{col 54}{space 4}-.9796277{col 67}{space 3} .1596068
{txt}{space 4}orimin_3 {c |}{col 14}{res}{space 2} 2.253266{col 26}{space 2} .6326023{col 37}{space 1}    3.56{col 46}{space 3}0.000{col 54}{space 4} 1.013389{col 67}{space 3} 3.493144
{txt}{space 3}orinonc_3 {c |}{col 14}{res}{space 2} .3643624{col 26}{space 2} .5014853{col 37}{space 1}    0.73{col 46}{space 3}0.467{col 54}{space 4}-.6185307{col 67}{space 3} 1.347256
{txt}{space 1}p_polity2_3 {c |}{col 14}{res}{space 2} .0194377{col 26}{space 2} .0435403{col 37}{space 1}    0.45{col 46}{space 3}0.655{col 54}{space 4}-.0658997{col 67}{space 3} .1047752
{txt}{space 3}bci_bci_3 {c |}{col 14}{res}{space 2} -.039583{col 26}{space 2} .0206212{col 37}{space 1}   -1.92{col 46}{space 3}0.055{col 54}{space 4}-.0799998{col 67}{space 3} .0008339
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2006  {c |}{col 14}{res}{space 2} .0135114{col 26}{space 2} .1084301{col 37}{space 1}    0.12{col 46}{space 3}0.901{col 54}{space 4}-.1990077{col 67}{space 3} .2260305
{txt}{space 7}2007  {c |}{col 14}{res}{space 2} .0388561{col 26}{space 2} .2116387{col 37}{space 1}    0.18{col 46}{space 3}0.854{col 54}{space 4}-.3759481{col 67}{space 3} .4536603
{txt}{space 7}2008  {c |}{col 14}{res}{space 2}-.1963421{col 26}{space 2} .2100544{col 37}{space 1}   -0.93{col 46}{space 3}0.350{col 54}{space 4}-.6080412{col 67}{space 3} .2153569
{txt}{space 7}2009  {c |}{col 14}{res}{space 2} -.339222{col 26}{space 2} .2442831{col 37}{space 1}   -1.39{col 46}{space 3}0.165{col 54}{space 4}-.8180081{col 67}{space 3} .1395641
{txt}{space 7}2010  {c |}{col 14}{res}{space 2}-.2642418{col 26}{space 2} .2340575{col 37}{space 1}   -1.13{col 46}{space 3}0.259{col 54}{space 4} -.722986{col 67}{space 3} .1945023
{txt}{space 7}2011  {c |}{col 14}{res}{space 2}-.0924121{col 26}{space 2} .2273404{col 37}{space 1}   -0.41{col 46}{space 3}0.684{col 54}{space 4}-.5379912{col 67}{space 3}  .353167
{txt}{space 7}2012  {c |}{col 14}{res}{space 2}-.1258439{col 26}{space 2}  .240224{col 37}{space 1}   -0.52{col 46}{space 3}0.600{col 54}{space 4}-.5966742{col 67}{space 3} .3449865
{txt}{space 7}2013  {c |}{col 14}{res}{space 2}-.1837617{col 26}{space 2} .2649262{col 37}{space 1}   -0.69{col 46}{space 3}0.488{col 54}{space 4}-.7030076{col 67}{space 3} .3354842
{txt}{space 7}2014  {c |}{col 14}{res}{space 2}-.3874146{col 26}{space 2} .2507117{col 37}{space 1}   -1.55{col 46}{space 3}0.122{col 54}{space 4}-.8788006{col 67}{space 3} .1039713
{txt}{space 7}2015  {c |}{col 14}{res}{space 2}-.4679113{col 26}{space 2} .2621617{col 37}{space 1}   -1.78{col 46}{space 3}0.074{col 54}{space 4}-.9817388{col 67}{space 3} .0459162
{txt}{space 7}2016  {c |}{col 14}{res}{space 2}-.5236546{col 26}{space 2} .2607877{col 37}{space 1}   -2.01{col 46}{space 3}0.045{col 54}{space 4}-1.034789{col 67}{space 3}-.0125202
{txt}{space 7}2017  {c |}{col 14}{res}{space 2}-.6109186{col 26}{space 2} .2604896{col 37}{space 1}   -2.35{col 46}{space 3}0.019{col 54}{space 4}-1.121469{col 67}{space 3}-.1003683
{txt}{space 7}2018  {c |}{col 14}{res}{space 2}-.5643043{col 26}{space 2} .2745196{col 37}{space 1}   -2.06{col 46}{space 3}0.040{col 54}{space 4}-1.102353{col 67}{space 3}-.0262557
{txt}{space 7}2019  {c |}{col 14}{res}{space 2}-.5902865{col 26}{space 2} .2909066{col 37}{space 1}   -2.03{col 46}{space 3}0.042{col 54}{space 4}-1.160453{col 67}{space 3}  -.02012
{txt}{space 7}2020  {c |}{col 14}{res}{space 2}-.6691699{col 26}{space 2} .2913264{col 37}{space 1}   -2.30{col 46}{space 3}0.022{col 54}{space 4}-1.240159{col 67}{space 3}-.0981805
{txt}{space 7}2021  {c |}{col 14}{res}{space 2}-.7860879{col 26}{space 2} .2953571{col 37}{space 1}   -2.66{col 46}{space 3}0.008{col 54}{space 4}-1.364977{col 67}{space 3}-.2071985
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 9.205194{col 26}{space 2} 1.216221{col 37}{space 1}    7.57{col 46}{space 3}0.000{col 54}{space 4} 6.821445{col 67}{space 3} 11.58894
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} 1.3896478
     {txt}sigma_e {c |} {res} .54146542
         {txt}rho {c |} {res} .86819042{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}

{com}. outreg2 using tab5rob_3.xls, append ctitle(DV: Monetary and fiscal stability)  dec(3) label  e(all)  2aster
{txt}{browse `"tab5rob_3.xls"'}
{browse `"C:\ado\SWIFT"' :dir}{com} : {txt}{stata `"seeout using "tab5rob_3.txt", label"':seeout}

{com}. 
. xtreg bti_eos2  pdevde_3 pstab_3 psave_3  orioil_3 origas_3 orimin_3 orinonc_3 p_polity2_3 bci_bci_3 i.year, re vce(cluster cowcode)
{res}
{txt}Random-effects GLS regression                   Number of obs     = {res}       521
{txt}Group variable: {res}cowcode                         {txt}Number of groups  = {res}        50

{txt}R-sq:                                           Obs per group:
     within  = {res}0.4196                                         {txt}min = {res}         1
{txt}     between = {res}0.4659                                         {txt}avg = {res}      10.4
{txt}     overall = {res}0.4755                                         {txt}max = {res}        17

                                                {txt}Wald chi2({res}25{txt})     =  {res}   268.40
{txt}corr(u_i, X)   = {res}0{txt} (assumed)                    Prob > chi2       =     {res}0.0000

{txt}{ralign 78:(Std. Err. adjusted for {res:50} clusters in cowcode)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}    bti_eos2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}pdevde_3 {c |}{col 14}{res}{space 2} .1748976{col 26}{space 2}  .339459{col 37}{space 1}    0.52{col 46}{space 3}0.606{col 54}{space 4}-.4904298{col 67}{space 3}  .840225
{txt}{space 5}pstab_3 {c |}{col 14}{res}{space 2}-.1091118{col 26}{space 2} .2956741{col 37}{space 1}   -0.37{col 46}{space 3}0.712{col 54}{space 4}-.6886224{col 67}{space 3} .4703987
{txt}{space 5}psave_3 {c |}{col 14}{res}{space 2} .0605105{col 26}{space 2} .2369518{col 37}{space 1}    0.26{col 46}{space 3}0.798{col 54}{space 4}-.4039066{col 67}{space 3} .5249275
{txt}{space 4}orioil_3 {c |}{col 14}{res}{space 2}-.6005955{col 26}{space 2} .4411282{col 37}{space 1}   -1.36{col 46}{space 3}0.173{col 54}{space 4}-1.465191{col 67}{space 3} .2639998
{txt}{space 4}origas_3 {c |}{col 14}{res}{space 2}-.5703274{col 26}{space 2} .4004129{col 37}{space 1}   -1.42{col 46}{space 3}0.154{col 54}{space 4}-1.355122{col 67}{space 3} .2144675
{txt}{space 4}orimin_3 {c |}{col 14}{res}{space 2} 1.145434{col 26}{space 2} .5211236{col 37}{space 1}    2.20{col 46}{space 3}0.028{col 54}{space 4}  .124051{col 67}{space 3} 2.166818
{txt}{space 3}orinonc_3 {c |}{col 14}{res}{space 2}-.2111699{col 26}{space 2} .3833227{col 37}{space 1}   -0.55{col 46}{space 3}0.582{col 54}{space 4}-.9624687{col 67}{space 3} .5401288
{txt}{space 1}p_polity2_3 {c |}{col 14}{res}{space 2}-.0229705{col 26}{space 2} .0704784{col 37}{space 1}   -0.33{col 46}{space 3}0.744{col 54}{space 4}-.1611057{col 67}{space 3} .1151646
{txt}{space 3}bci_bci_3 {c |}{col 14}{res}{space 2}-.0607544{col 26}{space 2} .0212024{col 37}{space 1}   -2.87{col 46}{space 3}0.004{col 54}{space 4}-.1023102{col 67}{space 3}-.0191985
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2006  {c |}{col 14}{res}{space 2} .1578852{col 26}{space 2}  .100758{col 37}{space 1}    1.57{col 46}{space 3}0.117{col 54}{space 4}-.0395969{col 67}{space 3} .3553672
{txt}{space 7}2007  {c |}{col 14}{res}{space 2} .2790575{col 26}{space 2} .2256937{col 37}{space 1}    1.24{col 46}{space 3}0.216{col 54}{space 4} -.163294{col 67}{space 3} .7214089
{txt}{space 7}2008  {c |}{col 14}{res}{space 2}  .052316{col 26}{space 2} .2491834{col 37}{space 1}    0.21{col 46}{space 3}0.834{col 54}{space 4}-.4360744{col 67}{space 3} .5407065
{txt}{space 7}2009  {c |}{col 14}{res}{space 2}-.1735997{col 26}{space 2} .3177688{col 37}{space 1}   -0.55{col 46}{space 3}0.585{col 54}{space 4} -.796415{col 67}{space 3} .4492156
{txt}{space 7}2010  {c |}{col 14}{res}{space 2} -.145073{col 26}{space 2} .3056452{col 37}{space 1}   -0.47{col 46}{space 3}0.635{col 54}{space 4}-.7441265{col 67}{space 3} .4539806
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} .0319113{col 26}{space 2} .3123431{col 37}{space 1}    0.10{col 46}{space 3}0.919{col 54}{space 4}-.5802699{col 67}{space 3} .6440925
{txt}{space 7}2012  {c |}{col 14}{res}{space 2}-.0820934{col 26}{space 2} .2993443{col 37}{space 1}   -0.27{col 46}{space 3}0.784{col 54}{space 4}-.6687974{col 67}{space 3} .5046106
{txt}{space 7}2013  {c |}{col 14}{res}{space 2}-.1597013{col 26}{space 2} .3105313{col 37}{space 1}   -0.51{col 46}{space 3}0.607{col 54}{space 4}-.7683315{col 67}{space 3} .4489289
{txt}{space 7}2014  {c |}{col 14}{res}{space 2}-.5346343{col 26}{space 2} .3274298{col 37}{space 1}   -1.63{col 46}{space 3}0.103{col 54}{space 4}-1.176385{col 67}{space 3} .1071164
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} -.793962{col 26}{space 2} .3700105{col 37}{space 1}   -2.15{col 46}{space 3}0.032{col 54}{space 4}-1.519169{col 67}{space 3}-.0687548
{txt}{space 7}2016  {c |}{col 14}{res}{space 2}-1.071686{col 26}{space 2} .3632316{col 37}{space 1}   -2.95{col 46}{space 3}0.003{col 54}{space 4}-1.783607{col 67}{space 3}-.3597651
{txt}{space 7}2017  {c |}{col 14}{res}{space 2}-1.382825{col 26}{space 2} .3613386{col 37}{space 1}   -3.83{col 46}{space 3}0.000{col 54}{space 4}-2.091035{col 67}{space 3}-.6746142
{txt}{space 7}2018  {c |}{col 14}{res}{space 2}-1.262877{col 26}{space 2} .3581459{col 37}{space 1}   -3.53{col 46}{space 3}0.000{col 54}{space 4} -1.96483{col 67}{space 3}-.5609241
{txt}{space 7}2019  {c |}{col 14}{res}{space 2}-1.205665{col 26}{space 2} .3635442{col 37}{space 1}   -3.32{col 46}{space 3}0.001{col 54}{space 4}-1.918198{col 67}{space 3}-.4931312
{txt}{space 7}2020  {c |}{col 14}{res}{space 2}-1.554064{col 26}{space 2} .3441468{col 37}{space 1}   -4.52{col 46}{space 3}0.000{col 54}{space 4}-2.228579{col 67}{space 3}-.8795487
{txt}{space 7}2021  {c |}{col 14}{res}{space 2}-1.929788{col 26}{space 2}  .335264{col 37}{space 1}   -5.76{col 46}{space 3}0.000{col 54}{space 4}-2.586893{col 67}{space 3}-1.272682
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 10.75847{col 26}{space 2} 1.220401{col 37}{space 1}    8.82{col 46}{space 3}0.000{col 54}{space 4} 8.366528{col 67}{space 3} 13.15041
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} 1.3379088
     {txt}sigma_e {c |} {res} .76931152
         {txt}rho {c |} {res} .75151975{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}

{com}. outreg2 using tab5rob_3.xls, append ctitle(DV: Economic Output Strength)  dec(3) label  e(all)  2aster
{txt}{browse `"tab5rob_3.xls"'}
{browse `"C:\ado\SWIFT"' :dir}{com} : {txt}{stata `"seeout using "tab5rob_3.txt", label"':seeout}

{com}. 
. xtreg gpcr_eci  pdevde_3 pstab_3 psave_3  orioil_3 origas_3 orimin_3 orinonc_3 p_polity2_3 bci_bci_3 i.year, re vce(cluster cowcode)
{res}
{txt}Random-effects GLS regression                   Number of obs     = {res}       848
{txt}Group variable: {res}cowcode                         {txt}Number of groups  = {res}        58

{txt}R-sq:                                           Obs per group:
     within  = {res}0.1224                                         {txt}min = {res}         1
{txt}     between = {res}0.4970                                         {txt}avg = {res}      14.6
{txt}     overall = {res}0.4612                                         {txt}max = {res}        27

                                                {txt}Wald chi2({res}35{txt})     =  {res}   350.59
{txt}corr(u_i, X)   = {res}0{txt} (assumed)                    Prob > chi2       =     {res}0.0000

{txt}{ralign 78:(Std. Err. adjusted for {res:58} clusters in cowcode)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}    gpcr_eci{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}pdevde_3 {c |}{col 14}{res}{space 2}-.2294596{col 26}{space 2} .1224389{col 37}{space 1}   -1.87{col 46}{space 3}0.061{col 54}{space 4}-.4694354{col 67}{space 3} .0105162
{txt}{space 5}pstab_3 {c |}{col 14}{res}{space 2}-.3020439{col 26}{space 2} .1209705{col 37}{space 1}   -2.50{col 46}{space 3}0.013{col 54}{space 4}-.5391416{col 67}{space 3}-.0649461
{txt}{space 5}psave_3 {c |}{col 14}{res}{space 2} .0025647{col 26}{space 2}  .081064{col 37}{space 1}    0.03{col 46}{space 3}0.975{col 54}{space 4}-.1563179{col 67}{space 3} .1614473
{txt}{space 4}orioil_3 {c |}{col 14}{res}{space 2}-.3881133{col 26}{space 2} .1274082{col 37}{space 1}   -3.05{col 46}{space 3}0.002{col 54}{space 4}-.6378289{col 67}{space 3}-.1383977
{txt}{space 4}origas_3 {c |}{col 14}{res}{space 2} -.271291{col 26}{space 2} .1150303{col 37}{space 1}   -2.36{col 46}{space 3}0.018{col 54}{space 4}-.4967463{col 67}{space 3}-.0458357
{txt}{space 4}orimin_3 {c |}{col 14}{res}{space 2} .0381037{col 26}{space 2} .2027161{col 37}{space 1}    0.19{col 46}{space 3}0.851{col 54}{space 4}-.3592125{col 67}{space 3} .4354199
{txt}{space 3}orinonc_3 {c |}{col 14}{res}{space 2}-.1456342{col 26}{space 2} .2492888{col 37}{space 1}   -0.58{col 46}{space 3}0.559{col 54}{space 4}-.6342314{col 67}{space 3} .3429629
{txt}{space 1}p_polity2_3 {c |}{col 14}{res}{space 2} .0227667{col 26}{space 2} .0136352{col 37}{space 1}    1.67{col 46}{space 3}0.095{col 54}{space 4}-.0039578{col 67}{space 3} .0494913
{txt}{space 3}bci_bci_3 {c |}{col 14}{res}{space 2}-.0159206{col 26}{space 2} .0100872{col 37}{space 1}   -1.58{col 46}{space 3}0.114{col 54}{space 4}-.0356911{col 67}{space 3}   .00385
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}1996  {c |}{col 14}{res}{space 2}-.1476634{col 26}{space 2} .0766067{col 37}{space 1}   -1.93{col 46}{space 3}0.054{col 54}{space 4}-.2978099{col 67}{space 3}  .002483
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-.2060046{col 26}{space 2} .0788639{col 37}{space 1}   -2.61{col 46}{space 3}0.009{col 54}{space 4}-.3605749{col 67}{space 3}-.0514342
{txt}{space 7}1998  {c |}{col 14}{res}{space 2} -.121702{col 26}{space 2} .0856917{col 37}{space 1}   -1.42{col 46}{space 3}0.156{col 54}{space 4}-.2896546{col 67}{space 3} .0462505
{txt}{space 7}1999  {c |}{col 14}{res}{space 2}-.1306196{col 26}{space 2} .0982063{col 37}{space 1}   -1.33{col 46}{space 3}0.184{col 54}{space 4}-.3231003{col 67}{space 3} .0618612
{txt}{space 7}2000  {c |}{col 14}{res}{space 2}-.2177961{col 26}{space 2} .1053602{col 37}{space 1}   -2.07{col 46}{space 3}0.039{col 54}{space 4}-.4242983{col 67}{space 3}-.0112939
{txt}{space 7}2001  {c |}{col 14}{res}{space 2}-.1960219{col 26}{space 2}   .11346{col 37}{space 1}   -1.73{col 46}{space 3}0.084{col 54}{space 4}-.4183994{col 67}{space 3} .0263556
{txt}{space 7}2002  {c |}{col 14}{res}{space 2}-.1430701{col 26}{space 2} .1073787{col 37}{space 1}   -1.33{col 46}{space 3}0.183{col 54}{space 4}-.3535285{col 67}{space 3} .0673882
{txt}{space 7}2003  {c |}{col 14}{res}{space 2}-.1274685{col 26}{space 2}  .108426{col 37}{space 1}   -1.18{col 46}{space 3}0.240{col 54}{space 4}-.3399796{col 67}{space 3} .0850427
{txt}{space 7}2004  {c |}{col 14}{res}{space 2}-.1070559{col 26}{space 2} .0902342{col 37}{space 1}   -1.19{col 46}{space 3}0.235{col 54}{space 4}-.2839118{col 67}{space 3} .0697999
{txt}{space 7}2005  {c |}{col 14}{res}{space 2}-.1133985{col 26}{space 2} .0994844{col 37}{space 1}   -1.14{col 46}{space 3}0.254{col 54}{space 4}-.3083843{col 67}{space 3} .0815872
{txt}{space 7}2006  {c |}{col 14}{res}{space 2}-.2678647{col 26}{space 2}  .096955{col 37}{space 1}   -2.76{col 46}{space 3}0.006{col 54}{space 4}-.4578929{col 67}{space 3}-.0778364
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}-.3455909{col 26}{space 2} .0965897{col 37}{space 1}   -3.58{col 46}{space 3}0.000{col 54}{space 4}-.5349031{col 67}{space 3}-.1562786
{txt}{space 7}2008  {c |}{col 14}{res}{space 2}-.4041012{col 26}{space 2} .1101029{col 37}{space 1}   -3.67{col 46}{space 3}0.000{col 54}{space 4}-.6198989{col 67}{space 3}-.1883034
{txt}{space 7}2009  {c |}{col 14}{res}{space 2}-.3269319{col 26}{space 2} .1002435{col 37}{space 1}   -3.26{col 46}{space 3}0.001{col 54}{space 4}-.5234055{col 67}{space 3}-.1304582
{txt}{space 7}2010  {c |}{col 14}{res}{space 2}  -.23029{col 26}{space 2} .1287889{col 37}{space 1}   -1.79{col 46}{space 3}0.074{col 54}{space 4}-.4827116{col 67}{space 3} .0221316
{txt}{space 7}2011  {c |}{col 14}{res}{space 2}-.3851846{col 26}{space 2} .1077178{col 37}{space 1}   -3.58{col 46}{space 3}0.000{col 54}{space 4}-.5963075{col 67}{space 3}-.1740617
{txt}{space 7}2012  {c |}{col 14}{res}{space 2} -.406314{col 26}{space 2} .1203892{col 37}{space 1}   -3.38{col 46}{space 3}0.001{col 54}{space 4}-.6422725{col 67}{space 3}-.1703554
{txt}{space 7}2013  {c |}{col 14}{res}{space 2}-.3333849{col 26}{space 2} .1075179{col 37}{space 1}   -3.10{col 46}{space 3}0.002{col 54}{space 4}-.5441162{col 67}{space 3}-.1226537
{txt}{space 7}2014  {c |}{col 14}{res}{space 2}-.3024754{col 26}{space 2} .1066926{col 37}{space 1}   -2.84{col 46}{space 3}0.005{col 54}{space 4} -.511589{col 67}{space 3}-.0933618
{txt}{space 7}2015  {c |}{col 14}{res}{space 2}-.2329555{col 26}{space 2}  .119415{col 37}{space 1}   -1.95{col 46}{space 3}0.051{col 54}{space 4}-.4670046{col 67}{space 3} .0010936
{txt}{space 7}2016  {c |}{col 14}{res}{space 2}-.2286395{col 26}{space 2} .1242177{col 37}{space 1}   -1.84{col 46}{space 3}0.066{col 54}{space 4}-.4721018{col 67}{space 3} .0148228
{txt}{space 7}2017  {c |}{col 14}{res}{space 2}-.2280705{col 26}{space 2} .1215411{col 37}{space 1}   -1.88{col 46}{space 3}0.061{col 54}{space 4}-.4662866{col 67}{space 3} .0101456
{txt}{space 7}2018  {c |}{col 14}{res}{space 2}-.2464186{col 26}{space 2} .1166263{col 37}{space 1}   -2.11{col 46}{space 3}0.035{col 54}{space 4}-.4750019{col 67}{space 3}-.0178354
{txt}{space 7}2019  {c |}{col 14}{res}{space 2}-.1716974{col 26}{space 2} .1288322{col 37}{space 1}   -1.33{col 46}{space 3}0.183{col 54}{space 4} -.424204{col 67}{space 3} .0808091
{txt}{space 7}2020  {c |}{col 14}{res}{space 2}-.1485982{col 26}{space 2} .1347524{col 37}{space 1}   -1.10{col 46}{space 3}0.270{col 54}{space 4}-.4127079{col 67}{space 3} .1155116
{txt}{space 7}2021  {c |}{col 14}{res}{space 2}-.2243235{col 26}{space 2} .1350843{col 37}{space 1}   -1.66{col 46}{space 3}0.097{col 54}{space 4}-.4890838{col 67}{space 3} .0404369
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 1.310079{col 26}{space 2} .5531453{col 37}{space 1}    2.37{col 46}{space 3}0.018{col 54}{space 4} .2259347{col 67}{space 3} 2.394224
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} .61928886
     {txt}sigma_e {c |} {res} .25975028
         {txt}rho {c |} {res} .85039496{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}

{com}. outreg2 using tab5rob_3.xls, append ctitle(DV: Economic Complexity Index)  dec(3) label  e(all)  2aster
{txt}{browse `"tab5rob_3.xls"'}
{browse `"C:\ado\SWIFT"' :dir}{com} : {txt}{stata `"seeout using "tab5rob_3.txt", label"':seeout}

{com}. 
. 
. *** 5-year lags (Online Appendix, Table 5, Columns 6-8)
. 
. xtreg bti_cps2  pdevde_5 pstab_5 psave_5  orioil_5 origas_5 orimin_5 orinonc_5 p_polity2_5 bci_bci_5 i.year, re vce(cluster cowcode)
{res}
{txt}Random-effects GLS regression                   Number of obs     = {res}       472
{txt}Group variable: {res}cowcode                         {txt}Number of groups  = {res}        48

{txt}R-sq:                                           Obs per group:
     within  = {res}0.2278                                         {txt}min = {res}         1
{txt}     between = {res}0.3412                                         {txt}avg = {res}       9.8
{txt}     overall = {res}0.3798                                         {txt}max = {res}        17

                                                {txt}Wald chi2({res}25{txt})     =  {res}   219.00
{txt}corr(u_i, X)   = {res}0{txt} (assumed)                    Prob > chi2       =     {res}0.0000

{txt}{ralign 78:(Std. Err. adjusted for {res:48} clusters in cowcode)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}    bti_cps2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}pdevde_5 {c |}{col 14}{res}{space 2} .1672761{col 26}{space 2} .2553136{col 37}{space 1}    0.66{col 46}{space 3}0.512{col 54}{space 4}-.3331294{col 67}{space 3} .6676816
{txt}{space 5}pstab_5 {c |}{col 14}{res}{space 2} -.521973{col 26}{space 2} .1914292{col 37}{space 1}   -2.73{col 46}{space 3}0.006{col 54}{space 4}-.8971672{col 67}{space 3}-.1467787
{txt}{space 5}psave_5 {c |}{col 14}{res}{space 2}  .449061{col 26}{space 2} .4592386{col 37}{space 1}    0.98{col 46}{space 3}0.328{col 54}{space 4}-.4510302{col 67}{space 3} 1.349152
{txt}{space 4}orioil_5 {c |}{col 14}{res}{space 2} .4281863{col 26}{space 2} .6396858{col 37}{space 1}    0.67{col 46}{space 3}0.503{col 54}{space 4}-.8255748{col 67}{space 3} 1.681947
{txt}{space 4}origas_5 {c |}{col 14}{res}{space 2}-.8248768{col 26}{space 2} .3089698{col 37}{space 1}   -2.67{col 46}{space 3}0.008{col 54}{space 4}-1.430447{col 67}{space 3}-.2193071
{txt}{space 4}orimin_5 {c |}{col 14}{res}{space 2} 1.693363{col 26}{space 2} .5012627{col 37}{space 1}    3.38{col 46}{space 3}0.001{col 54}{space 4} .7109064{col 67}{space 3}  2.67582
{txt}{space 3}orinonc_5 {c |}{col 14}{res}{space 2} .3757128{col 26}{space 2} .4416231{col 37}{space 1}    0.85{col 46}{space 3}0.395{col 54}{space 4}-.4898526{col 67}{space 3} 1.241278
{txt}{space 1}p_polity2_5 {c |}{col 14}{res}{space 2} .0549902{col 26}{space 2} .0336106{col 37}{space 1}    1.64{col 46}{space 3}0.102{col 54}{space 4}-.0108853{col 67}{space 3} .1208656
{txt}{space 3}bci_bci_5 {c |}{col 14}{res}{space 2}-.0420619{col 26}{space 2} .0234243{col 37}{space 1}   -1.80{col 46}{space 3}0.073{col 54}{space 4}-.0879727{col 67}{space 3} .0038488
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2006  {c |}{col 14}{res}{space 2}-.0304879{col 26}{space 2}  .111786{col 37}{space 1}   -0.27{col 46}{space 3}0.785{col 54}{space 4}-.2495845{col 67}{space 3} .1886087
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}-.0536593{col 26}{space 2} .2133243{col 37}{space 1}   -0.25{col 46}{space 3}0.801{col 54}{space 4}-.4717673{col 67}{space 3} .3644487
{txt}{space 7}2008  {c |}{col 14}{res}{space 2}-.2240535{col 26}{space 2} .2170275{col 37}{space 1}   -1.03{col 46}{space 3}0.302{col 54}{space 4}-.6494195{col 67}{space 3} .2013126
{txt}{space 7}2009  {c |}{col 14}{res}{space 2}-.3673276{col 26}{space 2} .2120105{col 37}{space 1}   -1.73{col 46}{space 3}0.083{col 54}{space 4}-.7828606{col 67}{space 3} .0482054
{txt}{space 7}2010  {c |}{col 14}{res}{space 2}-.3588596{col 26}{space 2} .2014357{col 37}{space 1}   -1.78{col 46}{space 3}0.075{col 54}{space 4}-.7536663{col 67}{space 3} .0359471
{txt}{space 7}2011  {c |}{col 14}{res}{space 2}-.1976472{col 26}{space 2} .2128725{col 37}{space 1}   -0.93{col 46}{space 3}0.353{col 54}{space 4}-.6148696{col 67}{space 3} .2195752
{txt}{space 7}2012  {c |}{col 14}{res}{space 2}-.2623689{col 26}{space 2} .2339972{col 37}{space 1}   -1.12{col 46}{space 3}0.262{col 54}{space 4} -.720995{col 67}{space 3} .1962572
{txt}{space 7}2013  {c |}{col 14}{res}{space 2}-.2360735{col 26}{space 2} .2782596{col 37}{space 1}   -0.85{col 46}{space 3}0.396{col 54}{space 4}-.7814523{col 67}{space 3} .3093053
{txt}{space 7}2014  {c |}{col 14}{res}{space 2}-.3958578{col 26}{space 2} .2507395{col 37}{space 1}   -1.58{col 46}{space 3}0.114{col 54}{space 4}-.8872982{col 67}{space 3} .0955827
{txt}{space 7}2015  {c |}{col 14}{res}{space 2}-.5733274{col 26}{space 2} .2627047{col 37}{space 1}   -2.18{col 46}{space 3}0.029{col 54}{space 4}-1.088219{col 67}{space 3}-.0584356
{txt}{space 7}2016  {c |}{col 14}{res}{space 2}-.6400338{col 26}{space 2}  .264731{col 37}{space 1}   -2.42{col 46}{space 3}0.016{col 54}{space 4}-1.158897{col 67}{space 3}-.1211706
{txt}{space 7}2017  {c |}{col 14}{res}{space 2}-.6396786{col 26}{space 2} .2738284{col 37}{space 1}   -2.34{col 46}{space 3}0.019{col 54}{space 4}-1.176372{col 67}{space 3}-.1029849
{txt}{space 7}2018  {c |}{col 14}{res}{space 2}-.6292485{col 26}{space 2} .2931763{col 37}{space 1}   -2.15{col 46}{space 3}0.032{col 54}{space 4}-1.203864{col 67}{space 3}-.0546335
{txt}{space 7}2019  {c |}{col 14}{res}{space 2}-.6802767{col 26}{space 2} .3079668{col 37}{space 1}   -2.21{col 46}{space 3}0.027{col 54}{space 4}-1.283881{col 67}{space 3}-.0766729
{txt}{space 7}2020  {c |}{col 14}{res}{space 2}-.7472964{col 26}{space 2} .3129313{col 37}{space 1}   -2.39{col 46}{space 3}0.017{col 54}{space 4} -1.36063{col 67}{space 3}-.1339623
{txt}{space 7}2021  {c |}{col 14}{res}{space 2}-.8452378{col 26}{space 2} .3176773{col 37}{space 1}   -2.66{col 46}{space 3}0.008{col 54}{space 4}-1.467874{col 67}{space 3}-.2226018
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 8.997611{col 26}{space 2} 1.411052{col 37}{space 1}    6.38{col 46}{space 3}0.000{col 54}{space 4} 6.231999{col 67}{space 3} 11.76322
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} 1.4269156
     {txt}sigma_e {c |} {res} .52215288
         {txt}rho {c |} {res} .88190762{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}

{com}. outreg2 using tab5rob_5.xls, append ctitle(DV: Monetary and fiscal stability)  dec(3) label  e(all)  2aster
{txt}{browse `"tab5rob_5.xls"'}
{browse `"C:\ado\SWIFT"' :dir}{com} : {txt}{stata `"seeout using "tab5rob_5.txt", label"':seeout}

{com}. 
. xtreg bti_eos2  pdevde_5 pstab_5 psave_5  orioil_5 origas_5 orimin_5 orinonc_5 p_polity2_5 bci_bci_5 i.year, re vce(cluster cowcode)
{res}
{txt}Random-effects GLS regression                   Number of obs     = {res}       472
{txt}Group variable: {res}cowcode                         {txt}Number of groups  = {res}        48

{txt}R-sq:                                           Obs per group:
     within  = {res}0.4397                                         {txt}min = {res}         1
{txt}     between = {res}0.4508                                         {txt}avg = {res}       9.8
{txt}     overall = {res}0.4821                                         {txt}max = {res}        17

                                                {txt}Wald chi2({res}25{txt})     =  {res}   249.79
{txt}corr(u_i, X)   = {res}0{txt} (assumed)                    Prob > chi2       =     {res}0.0000

{txt}{ralign 78:(Std. Err. adjusted for {res:48} clusters in cowcode)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}    bti_eos2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}pdevde_5 {c |}{col 14}{res}{space 2}-.2027505{col 26}{space 2} .4977756{col 37}{space 1}   -0.41{col 46}{space 3}0.684{col 54}{space 4}-1.178373{col 67}{space 3} .7728717
{txt}{space 5}pstab_5 {c |}{col 14}{res}{space 2}-.4122907{col 26}{space 2} .3165165{col 37}{space 1}   -1.30{col 46}{space 3}0.193{col 54}{space 4}-1.032652{col 67}{space 3} .2080701
{txt}{space 5}psave_5 {c |}{col 14}{res}{space 2} .2616475{col 26}{space 2} .2353431{col 37}{space 1}    1.11{col 46}{space 3}0.266{col 54}{space 4}-.1996165{col 67}{space 3} .7229116
{txt}{space 4}orioil_5 {c |}{col 14}{res}{space 2} .1850939{col 26}{space 2} .3440982{col 37}{space 1}    0.54{col 46}{space 3}0.591{col 54}{space 4}-.4893261{col 67}{space 3}  .859514
{txt}{space 4}origas_5 {c |}{col 14}{res}{space 2}-.8582515{col 26}{space 2} .4905703{col 37}{space 1}   -1.75{col 46}{space 3}0.080{col 54}{space 4}-1.819752{col 67}{space 3} .1032487
{txt}{space 4}orimin_5 {c |}{col 14}{res}{space 2} 1.182284{col 26}{space 2} .5103894{col 37}{space 1}    2.32{col 46}{space 3}0.021{col 54}{space 4} .1819387{col 67}{space 3} 2.182628
{txt}{space 3}orinonc_5 {c |}{col 14}{res}{space 2} .1446096{col 26}{space 2} .3541501{col 37}{space 1}    0.41{col 46}{space 3}0.683{col 54}{space 4}-.5495118{col 67}{space 3}  .838731
{txt}{space 1}p_polity2_5 {c |}{col 14}{res}{space 2} .0435809{col 26}{space 2} .0587665{col 37}{space 1}    0.74{col 46}{space 3}0.458{col 54}{space 4}-.0715993{col 67}{space 3} .1587611
{txt}{space 3}bci_bci_5 {c |}{col 14}{res}{space 2}-.0588524{col 26}{space 2} .0207767{col 37}{space 1}   -2.83{col 46}{space 3}0.005{col 54}{space 4} -.099574{col 67}{space 3}-.0181309
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2006  {c |}{col 14}{res}{space 2} .1383122{col 26}{space 2} .1023516{col 37}{space 1}    1.35{col 46}{space 3}0.177{col 54}{space 4}-.0622932{col 67}{space 3} .3389177
{txt}{space 7}2007  {c |}{col 14}{res}{space 2} .2400298{col 26}{space 2} .2273007{col 37}{space 1}    1.06{col 46}{space 3}0.291{col 54}{space 4}-.2054714{col 67}{space 3} .6855309
{txt}{space 7}2008  {c |}{col 14}{res}{space 2} .0333507{col 26}{space 2} .2365598{col 37}{space 1}    0.14{col 46}{space 3}0.888{col 54}{space 4}-.4302979{col 67}{space 3} .4969993
{txt}{space 7}2009  {c |}{col 14}{res}{space 2}-.1143003{col 26}{space 2} .2797497{col 37}{space 1}   -0.41{col 46}{space 3}0.683{col 54}{space 4}-.6625997{col 67}{space 3} .4339992
{txt}{space 7}2010  {c |}{col 14}{res}{space 2} -.223306{col 26}{space 2} .2591768{col 37}{space 1}   -0.86{col 46}{space 3}0.389{col 54}{space 4}-.7312833{col 67}{space 3} .2846713
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} -.112124{col 26}{space 2} .3068552{col 37}{space 1}   -0.37{col 46}{space 3}0.715{col 54}{space 4}-.7135492{col 67}{space 3} .4893012
{txt}{space 7}2012  {c |}{col 14}{res}{space 2}-.1905173{col 26}{space 2} .3061461{col 37}{space 1}   -0.62{col 46}{space 3}0.534{col 54}{space 4}-.7905526{col 67}{space 3}  .409518
{txt}{space 7}2013  {c |}{col 14}{res}{space 2}-.1527055{col 26}{space 2} .3251564{col 37}{space 1}   -0.47{col 46}{space 3}0.639{col 54}{space 4}-.7900002{col 67}{space 3} .4845892
{txt}{space 7}2014  {c |}{col 14}{res}{space 2}-.4532897{col 26}{space 2}  .306002{col 37}{space 1}   -1.48{col 46}{space 3}0.139{col 54}{space 4}-1.053043{col 67}{space 3} .1464631
{txt}{space 7}2015  {c |}{col 14}{res}{space 2}-.8296406{col 26}{space 2} .3466572{col 37}{space 1}   -2.39{col 46}{space 3}0.017{col 54}{space 4}-1.509076{col 67}{space 3}-.1502049
{txt}{space 7}2016  {c |}{col 14}{res}{space 2}-1.129005{col 26}{space 2} .3425135{col 37}{space 1}   -3.30{col 46}{space 3}0.001{col 54}{space 4}-1.800319{col 67}{space 3} -.457691
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} -1.37409{col 26}{space 2} .3539358{col 37}{space 1}   -3.88{col 46}{space 3}0.000{col 54}{space 4}-2.067792{col 67}{space 3}-.6803888
{txt}{space 7}2018  {c |}{col 14}{res}{space 2}-1.287624{col 26}{space 2} .3551554{col 37}{space 1}   -3.63{col 46}{space 3}0.000{col 54}{space 4}-1.983716{col 67}{space 3}-.5915324
{txt}{space 7}2019  {c |}{col 14}{res}{space 2}-1.240264{col 26}{space 2} .3551878{col 37}{space 1}   -3.49{col 46}{space 3}0.000{col 54}{space 4}-1.936419{col 67}{space 3}-.5441085
{txt}{space 7}2020  {c |}{col 14}{res}{space 2}-1.607856{col 26}{space 2} .3354796{col 37}{space 1}   -4.79{col 46}{space 3}0.000{col 54}{space 4}-2.265384{col 67}{space 3} -.950328
{txt}{space 7}2021  {c |}{col 14}{res}{space 2} -1.98134{col 26}{space 2} .3243629{col 37}{space 1}   -6.11{col 46}{space 3}0.000{col 54}{space 4} -2.61708{col 67}{space 3}-1.345601
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 10.29712{col 26}{space 2}  1.21116{col 37}{space 1}    8.50{col 46}{space 3}0.000{col 54}{space 4} 7.923289{col 67}{space 3} 12.67095
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} 1.3957972
     {txt}sigma_e {c |} {res} .73066056
         {txt}rho {c |} {res} .78491531{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}

{com}. outreg2 using tab5rob_5.xls, append ctitle(DV: Economic Output Strength)  dec(3) label  e(all)  2aster
{txt}{browse `"tab5rob_5.xls"'}
{browse `"C:\ado\SWIFT"' :dir}{com} : {txt}{stata `"seeout using "tab5rob_5.txt", label"':seeout}

{com}. 
. xtreg gpcr_eci  pdevde_5 pstab_5 psave_5  orioil_5 origas_5 orimin_5 orinonc_5 p_polity2_5 bci_bci_5 i.year, re vce(cluster cowcode)
{res}
{txt}Random-effects GLS regression                   Number of obs     = {res}       754
{txt}Group variable: {res}cowcode                         {txt}Number of groups  = {res}        55

{txt}R-sq:                                           Obs per group:
     within  = {res}0.0994                                         {txt}min = {res}         1
{txt}     between = {res}0.4872                                         {txt}avg = {res}      13.7
{txt}     overall = {res}0.4864                                         {txt}max = {res}        27

                                                {txt}Wald chi2({res}35{txt})     =  {res}   364.38
{txt}corr(u_i, X)   = {res}0{txt} (assumed)                    Prob > chi2       =     {res}0.0000

{txt}{ralign 78:(Std. Err. adjusted for {res:55} clusters in cowcode)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}    gpcr_eci{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}pdevde_5 {c |}{col 14}{res}{space 2}-.1958638{col 26}{space 2} .1239005{col 37}{space 1}   -1.58{col 46}{space 3}0.114{col 54}{space 4}-.4387043{col 67}{space 3} .0469766
{txt}{space 5}pstab_5 {c |}{col 14}{res}{space 2}-.2910377{col 26}{space 2} .1082343{col 37}{space 1}   -2.69{col 46}{space 3}0.007{col 54}{space 4} -.503173{col 67}{space 3}-.0789024
{txt}{space 5}psave_5 {c |}{col 14}{res}{space 2}-.0267684{col 26}{space 2} .0726439{col 37}{space 1}   -0.37{col 46}{space 3}0.713{col 54}{space 4}-.1691477{col 67}{space 3}  .115611
{txt}{space 4}orioil_5 {c |}{col 14}{res}{space 2}-.1792145{col 26}{space 2} .1796866{col 37}{space 1}   -1.00{col 46}{space 3}0.319{col 54}{space 4}-.5313938{col 67}{space 3} .1729647
{txt}{space 4}origas_5 {c |}{col 14}{res}{space 2}-.2233675{col 26}{space 2} .1172502{col 37}{space 1}   -1.91{col 46}{space 3}0.057{col 54}{space 4}-.4531736{col 67}{space 3} .0064386
{txt}{space 4}orimin_5 {c |}{col 14}{res}{space 2}-.0143907{col 26}{space 2} .2063262{col 37}{space 1}   -0.07{col 46}{space 3}0.944{col 54}{space 4}-.4187826{col 67}{space 3} .3900012
{txt}{space 3}orinonc_5 {c |}{col 14}{res}{space 2}-.0201547{col 26}{space 2} .2254808{col 37}{space 1}   -0.09{col 46}{space 3}0.929{col 54}{space 4} -.462089{col 67}{space 3} .4217795
{txt}{space 1}p_polity2_5 {c |}{col 14}{res}{space 2} .0212545{col 26}{space 2} .0111669{col 37}{space 1}    1.90{col 46}{space 3}0.057{col 54}{space 4}-.0006322{col 67}{space 3} .0431412
{txt}{space 3}bci_bci_5 {c |}{col 14}{res}{space 2}-.0133757{col 26}{space 2} .0101633{col 37}{space 1}   -1.32{col 46}{space 3}0.188{col 54}{space 4}-.0332954{col 67}{space 3} .0065441
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}1996  {c |}{col 14}{res}{space 2}-.0387518{col 26}{space 2} .0713726{col 37}{space 1}   -0.54{col 46}{space 3}0.587{col 54}{space 4}-.1786394{col 67}{space 3} .1011359
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-.0882302{col 26}{space 2} .0725424{col 37}{space 1}   -1.22{col 46}{space 3}0.224{col 54}{space 4}-.2304107{col 67}{space 3} .0539503
{txt}{space 7}1998  {c |}{col 14}{res}{space 2}-.1002782{col 26}{space 2} .0991501{col 37}{space 1}   -1.01{col 46}{space 3}0.312{col 54}{space 4}-.2946088{col 67}{space 3} .0940525
{txt}{space 7}1999  {c |}{col 14}{res}{space 2}-.1226599{col 26}{space 2} .1169659{col 37}{space 1}   -1.05{col 46}{space 3}0.294{col 54}{space 4} -.351909{col 67}{space 3} .1065891
{txt}{space 7}2000  {c |}{col 14}{res}{space 2}-.1743449{col 26}{space 2} .1266636{col 37}{space 1}   -1.38{col 46}{space 3}0.169{col 54}{space 4}-.4226011{col 67}{space 3} .0739112
{txt}{space 7}2001  {c |}{col 14}{res}{space 2}-.1807915{col 26}{space 2} .1337517{col 37}{space 1}   -1.35{col 46}{space 3}0.176{col 54}{space 4}  -.44294{col 67}{space 3}  .081357
{txt}{space 7}2002  {c |}{col 14}{res}{space 2}-.1647928{col 26}{space 2} .1286406{col 37}{space 1}   -1.28{col 46}{space 3}0.200{col 54}{space 4}-.4169237{col 67}{space 3} .0873381
{txt}{space 7}2003  {c |}{col 14}{res}{space 2}-.1044451{col 26}{space 2} .1412683{col 37}{space 1}   -0.74{col 46}{space 3}0.460{col 54}{space 4}-.3813259{col 67}{space 3} .1724356
{txt}{space 7}2004  {c |}{col 14}{res}{space 2}-.0733515{col 26}{space 2} .1047982{col 37}{space 1}   -0.70{col 46}{space 3}0.484{col 54}{space 4}-.2787523{col 67}{space 3} .1320493
{txt}{space 7}2005  {c |}{col 14}{res}{space 2}-.0810611{col 26}{space 2} .1174571{col 37}{space 1}   -0.69{col 46}{space 3}0.490{col 54}{space 4}-.3112728{col 67}{space 3} .1491505
{txt}{space 7}2006  {c |}{col 14}{res}{space 2}-.2083137{col 26}{space 2} .1138695{col 37}{space 1}   -1.83{col 46}{space 3}0.067{col 54}{space 4}-.4314939{col 67}{space 3} .0148664
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}-.3061534{col 26}{space 2} .1196536{col 37}{space 1}   -2.56{col 46}{space 3}0.011{col 54}{space 4}-.5406701{col 67}{space 3}-.0716367
{txt}{space 7}2008  {c |}{col 14}{res}{space 2}-.3679718{col 26}{space 2} .1443517{col 37}{space 1}   -2.55{col 46}{space 3}0.011{col 54}{space 4}-.6508959{col 67}{space 3}-.0850477
{txt}{space 7}2009  {c |}{col 14}{res}{space 2}-.2832581{col 26}{space 2} .1289895{col 37}{space 1}   -2.20{col 46}{space 3}0.028{col 54}{space 4}-.5360728{col 67}{space 3}-.0304433
{txt}{space 7}2010  {c |}{col 14}{res}{space 2}-.1734504{col 26}{space 2} .1427103{col 37}{space 1}   -1.22{col 46}{space 3}0.224{col 54}{space 4}-.4531575{col 67}{space 3} .1062567
{txt}{space 7}2011  {c |}{col 14}{res}{space 2}-.3673992{col 26}{space 2} .1302868{col 37}{space 1}   -2.82{col 46}{space 3}0.005{col 54}{space 4}-.6227566{col 67}{space 3}-.1120418
{txt}{space 7}2012  {c |}{col 14}{res}{space 2}-.3810719{col 26}{space 2} .1412116{col 37}{space 1}   -2.70{col 46}{space 3}0.007{col 54}{space 4}-.6578416{col 67}{space 3}-.1043022
{txt}{space 7}2013  {c |}{col 14}{res}{space 2}-.2958918{col 26}{space 2} .1271611{col 37}{space 1}   -2.33{col 46}{space 3}0.020{col 54}{space 4} -.545123{col 67}{space 3}-.0466607
{txt}{space 7}2014  {c |}{col 14}{res}{space 2}-.2833157{col 26}{space 2} .1292191{col 37}{space 1}   -2.19{col 46}{space 3}0.028{col 54}{space 4}-.5365805{col 67}{space 3}-.0300509
{txt}{space 7}2015  {c |}{col 14}{res}{space 2}-.1868134{col 26}{space 2}  .137913{col 37}{space 1}   -1.35{col 46}{space 3}0.176{col 54}{space 4}-.4571178{col 67}{space 3} .0834911
{txt}{space 7}2016  {c |}{col 14}{res}{space 2}-.2089312{col 26}{space 2} .1427257{col 37}{space 1}   -1.46{col 46}{space 3}0.143{col 54}{space 4}-.4886684{col 67}{space 3} .0708061
{txt}{space 7}2017  {c |}{col 14}{res}{space 2}-.1860541{col 26}{space 2} .1406789{col 37}{space 1}   -1.32{col 46}{space 3}0.186{col 54}{space 4}-.4617797{col 67}{space 3} .0896715
{txt}{space 7}2018  {c |}{col 14}{res}{space 2}-.2168449{col 26}{space 2} .1362167{col 37}{space 1}   -1.59{col 46}{space 3}0.111{col 54}{space 4}-.4838246{col 67}{space 3} .0501349
{txt}{space 7}2019  {c |}{col 14}{res}{space 2}-.1348671{col 26}{space 2} .1461898{col 37}{space 1}   -0.92{col 46}{space 3}0.356{col 54}{space 4}-.4213938{col 67}{space 3} .1516596
{txt}{space 7}2020  {c |}{col 14}{res}{space 2}-.1135107{col 26}{space 2}    .1532{col 37}{space 1}   -0.74{col 46}{space 3}0.459{col 54}{space 4}-.4137771{col 67}{space 3} .1867558
{txt}{space 7}2021  {c |}{col 14}{res}{space 2}-.1865986{col 26}{space 2} .1529675{col 37}{space 1}   -1.22{col 46}{space 3}0.223{col 54}{space 4}-.4864094{col 67}{space 3} .1132122
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} .9695232{col 26}{space 2} .5403958{col 37}{space 1}    1.79{col 46}{space 3}0.073{col 54}{space 4}-.0896331{col 67}{space 3}  2.02868
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} .64211339
     {txt}sigma_e {c |} {res} .26306658
         {txt}rho {c |} {res} .85627816{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}

{com}. outreg2 using tab5rob_5.xls, append ctitle(DV: Economic Complexity Index)  dec(3) label  e(all)  2aster
{txt}{browse `"tab5rob_5.xls"'}
{browse `"C:\ado\SWIFT"' :dir}{com} : {txt}{stata `"seeout using "tab5rob_5.txt", label"':seeout}

{com}. 
. 
. *** xtscc (Online Appendix, Table 6, Columns 2-4)
. 
. xtscc bti_cps2 bti_cps_12 pdevde_1 pstab_1 psave_1  orioil_1 origas_1 orimin_1 orinonc_1 p_polity2_1 bci_bci_1  i.year, re
{txt}(1,276 missing values generated)
{res}
{txt}Regression with Driscoll-Kraay standard errors{col 50}Number of obs     ={res}       450
{txt}Method: {res}Random-effects GLS regression{col 50}{txt}Number of groups  ={res}        46
{txt}Group variable (i): {res}cowcode{col 50}{txt}Wald chi2({res}25{txt}){col 68}={res}  2.12e+07
{txt}maximum lag: {res}2{col 50}{txt}Prob > chi2       =    {res}0.0000
{txt}corr(u_i, Xb) = {res}0 {txt}(assumed){col 50}overall R-squared =    {res}0.9752

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}  Drisc/Kraay
{col 1}    bti_cps2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 2}bti_cps_12 {c |}{col 14}{res}{space 2} .9897251{col 26}{space 2}  .013494{col 37}{space 1}   73.35{col 46}{space 3}0.000{col 54}{space 4} .9609633{col 67}{space 3} 1.018487
{txt}{space 4}pdevde_1 {c |}{col 14}{res}{space 2}-.0746908{col 26}{space 2} .0459243{col 37}{space 1}   -1.63{col 46}{space 3}0.125{col 54}{space 4}-.1725762{col 67}{space 3} .0231946
{txt}{space 5}pstab_1 {c |}{col 14}{res}{space 2}-.0364873{col 26}{space 2} .0343173{col 37}{space 1}   -1.06{col 46}{space 3}0.304{col 54}{space 4} -.109633{col 67}{space 3} .0366584
{txt}{space 5}psave_1 {c |}{col 14}{res}{space 2} .0281375{col 26}{space 2} .0247021{col 37}{space 1}    1.14{col 46}{space 3}0.273{col 54}{space 4}-.0245138{col 67}{space 3} .0807888
{txt}{space 4}orioil_1 {c |}{col 14}{res}{space 2} .0163561{col 26}{space 2} .0528908{col 37}{space 1}    0.31{col 46}{space 3}0.761{col 54}{space 4}-.0963779{col 67}{space 3} .1290901
{txt}{space 4}origas_1 {c |}{col 14}{res}{space 2}-.0203834{col 26}{space 2} .0365498{col 37}{space 1}   -0.56{col 46}{space 3}0.585{col 54}{space 4}-.0982875{col 67}{space 3} .0575206
{txt}{space 4}orimin_1 {c |}{col 14}{res}{space 2} .0444398{col 26}{space 2} .0440173{col 37}{space 1}    1.01{col 46}{space 3}0.329{col 54}{space 4}-.0493808{col 67}{space 3} .1382603
{txt}{space 3}orinonc_1 {c |}{col 14}{res}{space 2} .0196055{col 26}{space 2} .0445414{col 37}{space 1}    0.44{col 46}{space 3}0.666{col 54}{space 4}-.0753322{col 67}{space 3} .1145432
{txt}{space 1}p_polity2_1 {c |}{col 14}{res}{space 2}-.0001842{col 26}{space 2}  .003818{col 37}{space 1}   -0.05{col 46}{space 3}0.962{col 54}{space 4}-.0083221{col 67}{space 3} .0079537
{txt}{space 3}bci_bci_1 {c |}{col 14}{res}{space 2}-.0022125{col 26}{space 2} .0014592{col 37}{space 1}   -1.52{col 46}{space 3}0.150{col 54}{space 4}-.0053227{col 67}{space 3} .0008977
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}1932  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (empty)
{space 7}1933  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1934  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1935  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1936  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1937  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1938  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1939  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1940  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1941  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1942  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1943  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1944  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1945  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1946  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1947  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1948  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1949  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1950  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1951  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1952  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1953  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1954  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1955  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1956  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1957  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1958  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1959  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1960  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1961  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1962  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1963  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1964  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1965  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1966  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1967  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1968  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1969  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1970  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1971  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1972  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1973  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1974  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1975  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1976  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1977  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1978  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1979  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1980  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1981  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1982  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1983  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1984  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1985  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1986  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1987  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1988  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1989  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1990  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1991  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1992  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1993  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1994  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1995  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1996  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1997  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1998  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1999  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2000  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2001  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2002  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2003  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2004  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2005  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2006  {c |}{col 14}{res}{space 2} .4689457{col 26}{space 2} .0583382{col 37}{space 1}    8.04{col 46}{space 3}0.000{col 54}{space 4} .3446009{col 67}{space 3} .5932906
{txt}{space 7}2007  {c |}{col 14}{res}{space 2} .5622177{col 26}{space 2} .0626633{col 37}{space 1}    8.97{col 46}{space 3}0.000{col 54}{space 4}  .428654{col 67}{space 3} .6957814
{txt}{space 7}2008  {c |}{col 14}{res}{space 2} .2801955{col 26}{space 2} .0626923{col 37}{space 1}    4.47{col 46}{space 3}0.000{col 54}{space 4} .1465701{col 67}{space 3}  .413821
{txt}{space 7}2009  {c |}{col 14}{res}{space 2} .3170336{col 26}{space 2} .0600457{col 37}{space 1}    5.28{col 46}{space 3}0.000{col 54}{space 4} .1890493{col 67}{space 3}  .445018
{txt}{space 7}2010  {c |}{col 14}{res}{space 2} .5392229{col 26}{space 2} .0626479{col 37}{space 1}    8.61{col 46}{space 3}0.000{col 54}{space 4}  .405692{col 67}{space 3} .6727538
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} .5374523{col 26}{space 2} .0618086{col 37}{space 1}    8.70{col 46}{space 3}0.000{col 54}{space 4} .4057104{col 67}{space 3} .6691942
{txt}{space 7}2012  {c |}{col 14}{res}{space 2} .4481262{col 26}{space 2} .0652259{col 37}{space 1}    6.87{col 46}{space 3}0.000{col 54}{space 4} .3091005{col 67}{space 3}  .587152
{txt}{space 7}2013  {c |}{col 14}{res}{space 2} .4600661{col 26}{space 2} .0591227{col 37}{space 1}    7.78{col 46}{space 3}0.000{col 54}{space 4} .3340489{col 67}{space 3} .5860832
{txt}{space 7}2014  {c |}{col 14}{res}{space 2} .3378421{col 26}{space 2} .0570627{col 37}{space 1}    5.92{col 46}{space 3}0.000{col 54}{space 4} .2162158{col 67}{space 3} .4594685
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} .3544766{col 26}{space 2} .0544127{col 37}{space 1}    6.51{col 46}{space 3}0.000{col 54}{space 4} .2384987{col 67}{space 3} .4704545
{txt}{space 7}2016  {c |}{col 14}{res}{space 2} .4063375{col 26}{space 2} .0535176{col 37}{space 1}    7.59{col 46}{space 3}0.000{col 54}{space 4} .2922675{col 67}{space 3} .5204076
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} .3905593{col 26}{space 2} .0523125{col 37}{space 1}    7.47{col 46}{space 3}0.000{col 54}{space 4} .2790579{col 67}{space 3} .5020607
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} .4467467{col 26}{space 2} .0522518{col 37}{space 1}    8.55{col 46}{space 3}0.000{col 54}{space 4} .3353745{col 67}{space 3} .5581188
{txt}{space 7}2019  {c |}{col 14}{res}{space 2} .4325471{col 26}{space 2} .0505221{col 37}{space 1}    8.56{col 46}{space 3}0.000{col 54}{space 4} .3248618{col 67}{space 3} .5402324
{txt}{space 7}2020  {c |}{col 14}{res}{space 2} .4547065{col 26}{space 2} .0721104{col 37}{space 1}    6.31{col 46}{space 3}0.000{col 54}{space 4} .3010068{col 67}{space 3} .6084062
{txt}{space 7}2021  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2022  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2023  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2}-.2841781{col 26}{space 2} .1203934{col 37}{space 1}   -2.36{col 46}{space 3}0.032{col 54}{space 4}-.5407904{col 67}{space 3}-.0275657
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res}         0
     {txt}sigma_e {c |} {res} .30038665
         {txt}rho {c |} {res}         0{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}


{com}. outreg2 using tab6.xls, append ctitle(DV: Monetary and fiscal stability)  dec(3) label  e(all) 2aster
{txt}{browse `"tab6.xls"'}
{browse `"C:\ado\SWIFT"' :dir}{com} : {txt}{stata `"seeout using "tab6.txt", label"':seeout}

{com}. 
. xtscc bti_eos2 bti_eos_12 pdevde_1 pstab_1 psave_1  orioil_1 origas_1 orimin_1 orinonc_1 p_polity2_1 bci_bci_1  i.year, re 
{txt}(1,276 missing values generated)
{res}
{txt}Regression with Driscoll-Kraay standard errors{col 50}Number of obs     ={res}       450
{txt}Method: {res}Random-effects GLS regression{col 50}{txt}Number of groups  ={res}        46
{txt}Group variable (i): {res}cowcode{col 50}{txt}Wald chi2({res}25{txt}){col 68}={res}  4.00e+07
{txt}maximum lag: {res}2{col 50}{txt}Prob > chi2       =    {res}0.0000
{txt}corr(u_i, Xb) = {res}0 {txt}(assumed){col 50}overall R-squared =    {res}0.9479

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}  Drisc/Kraay
{col 1}    bti_eos2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 2}bti_eos_12 {c |}{col 14}{res}{space 2} .9620053{col 26}{space 2}  .016255{col 37}{space 1}   59.18{col 46}{space 3}0.000{col 54}{space 4} .9273585{col 67}{space 3} .9966522
{txt}{space 4}pdevde_1 {c |}{col 14}{res}{space 2}-.0683667{col 26}{space 2}  .056346{col 37}{space 1}   -1.21{col 46}{space 3}0.244{col 54}{space 4}-.1884654{col 67}{space 3}  .051732
{txt}{space 5}pstab_1 {c |}{col 14}{res}{space 2}-.0038026{col 26}{space 2} .1153096{col 37}{space 1}   -0.03{col 46}{space 3}0.974{col 54}{space 4}-.2495793{col 67}{space 3} .2419741
{txt}{space 5}psave_1 {c |}{col 14}{res}{space 2} .0521193{col 26}{space 2} .0681908{col 37}{space 1}    0.76{col 46}{space 3}0.457{col 54}{space 4} -.093226{col 67}{space 3} .1974647
{txt}{space 4}orioil_1 {c |}{col 14}{res}{space 2}-.0387798{col 26}{space 2} .0492746{col 37}{space 1}   -0.79{col 46}{space 3}0.444{col 54}{space 4}-.1438062{col 67}{space 3} .0662465
{txt}{space 4}origas_1 {c |}{col 14}{res}{space 2} .0077465{col 26}{space 2} .0746989{col 37}{space 1}    0.10{col 46}{space 3}0.919{col 54}{space 4}-.1514704{col 67}{space 3} .1669635
{txt}{space 4}orimin_1 {c |}{col 14}{res}{space 2} .1377253{col 26}{space 2} .1033224{col 37}{space 1}    1.33{col 46}{space 3}0.202{col 54}{space 4}-.0825011{col 67}{space 3} .3579517
{txt}{space 3}orinonc_1 {c |}{col 14}{res}{space 2} .1001587{col 26}{space 2} .0633403{col 37}{space 1}    1.58{col 46}{space 3}0.135{col 54}{space 4}-.0348479{col 67}{space 3} .2351653
{txt}{space 1}p_polity2_1 {c |}{col 14}{res}{space 2}-.0012033{col 26}{space 2} .0069833{col 37}{space 1}   -0.17{col 46}{space 3}0.865{col 54}{space 4}-.0160879{col 67}{space 3} .0136813
{txt}{space 3}bci_bci_1 {c |}{col 14}{res}{space 2}-.0027202{col 26}{space 2}    .0025{col 37}{space 1}   -1.09{col 46}{space 3}0.294{col 54}{space 4}-.0080488{col 67}{space 3} .0026084
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}1932  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (empty)
{space 7}1933  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1934  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1935  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1936  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1937  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1938  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1939  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1940  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1941  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1942  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1943  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1944  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1945  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1946  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1947  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1948  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1949  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1950  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1951  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1952  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1953  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1954  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1955  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1956  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1957  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1958  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1959  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1960  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1961  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1962  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1963  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1964  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1965  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1966  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1967  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1968  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1969  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1970  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1971  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1972  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1973  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1974  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1975  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1976  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1977  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1978  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1979  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1980  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1981  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1982  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1983  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1984  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1985  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1986  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1987  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1988  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1989  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1990  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1991  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1992  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1993  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1994  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1995  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1996  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1997  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1998  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1999  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2000  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2001  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2002  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2003  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2004  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2005  {c |}{col 14}{res}{space 2} .0647937{col 26}{space 2} .0436193{col 37}{space 1}    1.49{col 46}{space 3}0.158{col 54}{space 4}-.0281787{col 67}{space 3} .1577662
{txt}{space 7}2006  {c |}{col 14}{res}{space 2} .1603684{col 26}{space 2} .0721043{col 37}{space 1}    2.22{col 46}{space 3}0.042{col 54}{space 4} .0066818{col 67}{space 3} .3140551
{txt}{space 7}2007  {c |}{col 14}{res}{space 2} .1713325{col 26}{space 2} .0827621{col 37}{space 1}    2.07{col 46}{space 3}0.056{col 54}{space 4}-.0050707{col 67}{space 3} .3477356
{txt}{space 7}2008  {c |}{col 14}{res}{space 2}-.2738971{col 26}{space 2} .0865539{col 37}{space 1}   -3.16{col 46}{space 3}0.006{col 54}{space 4}-.4583824{col 67}{space 3}-.0894118
{txt}{space 7}2009  {c |}{col 14}{res}{space 2}-.2399706{col 26}{space 2} .0868844{col 37}{space 1}   -2.76{col 46}{space 3}0.015{col 54}{space 4}-.4251603{col 67}{space 3}-.0547809
{txt}{space 7}2010  {c |}{col 14}{res}{space 2} .0259941{col 26}{space 2} .0912355{col 37}{space 1}    0.28{col 46}{space 3}0.780{col 54}{space 4}-.1684698{col 67}{space 3} .2204579
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} .0446135{col 26}{space 2} .0978686{col 37}{space 1}    0.46{col 46}{space 3}0.655{col 54}{space 4}-.1639885{col 67}{space 3} .2532155
{txt}{space 7}2012  {c |}{col 14}{res}{space 2}-.0898581{col 26}{space 2} .1027978{col 37}{space 1}   -0.87{col 46}{space 3}0.396{col 54}{space 4}-.3089664{col 67}{space 3} .1292503
{txt}{space 7}2013  {c |}{col 14}{res}{space 2}-.0773483{col 26}{space 2} .1022773{col 37}{space 1}   -0.76{col 46}{space 3}0.461{col 54}{space 4}-.2953472{col 67}{space 3} .1406506
{txt}{space 7}2014  {c |}{col 14}{res}{space 2}-.3084134{col 26}{space 2} .1031303{col 37}{space 1}   -2.99{col 46}{space 3}0.009{col 54}{space 4}-.5282304{col 67}{space 3}-.0885965
{txt}{space 7}2015  {c |}{col 14}{res}{space 2}-.3047265{col 26}{space 2} .1038642{col 37}{space 1}   -2.93{col 46}{space 3}0.010{col 54}{space 4}-.5261079{col 67}{space 3}-.0833452
{txt}{space 7}2016  {c |}{col 14}{res}{space 2}-.3423576{col 26}{space 2} .1089646{col 37}{space 1}   -3.14{col 46}{space 3}0.007{col 54}{space 4}-.5746101{col 67}{space 3}-.1101052
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} -.355764{col 26}{space 2} .1122549{col 37}{space 1}   -3.17{col 46}{space 3}0.006{col 54}{space 4}-.5950298{col 67}{space 3}-.1164983
{txt}{space 7}2018  {c |}{col 14}{res}{space 2}-.0156802{col 26}{space 2} .1143085{col 37}{space 1}   -0.14{col 46}{space 3}0.893{col 54}{space 4}-.2593229{col 67}{space 3} .2279626
{txt}{space 7}2019  {c |}{col 14}{res}{space 2}-.0114426{col 26}{space 2} .1119517{col 37}{space 1}   -0.10{col 46}{space 3}0.920{col 54}{space 4}-.2500621{col 67}{space 3} .2271769
{txt}{space 7}2020  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2021  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2022  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2023  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2}  .415862{col 26}{space 2} .1626771{col 37}{space 1}    2.56{col 46}{space 3}0.022{col 54}{space 4} .0691239{col 67}{space 3}    .7626
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} .04165174
     {txt}sigma_e {c |} {res} .43711066
         {txt}rho {c |} {res} .00899825{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}


{com}. outreg2 using tab6.xls, append ctitle(DV: Economic Output Strength)  dec(3) label  e(all)  2aster
{txt}{browse `"tab6.xls"'}
{browse `"C:\ado\SWIFT"' :dir}{com} : {txt}{stata `"seeout using "tab6.txt", label"':seeout}

{com}. 
. xtscc gpcr_eci gpcr_eci_1 pdevde_1 pstab_1 psave_1  orioil_1 origas_1 orimin_1 orinonc_1 p_polity2_1 bci_bci_1  i.year, re 
{txt}(909 missing values generated)
{res}
{txt}Regression with Driscoll-Kraay standard errors{col 50}Number of obs     ={res}       817
{txt}Method: {res}Random-effects GLS regression{col 50}{txt}Number of groups  ={res}        58
{txt}Group variable (i): {res}cowcode{col 50}{txt}Wald chi2({res}35{txt}){col 68}={res} 595725.14
{txt}maximum lag: {res}2{col 50}{txt}Prob > chi2       =    {res}0.0000
{txt}corr(u_i, Xb) = {res}0 {txt}(assumed){col 50}overall R-squared =    {res}0.9547

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}  Drisc/Kraay
{col 1}    gpcr_eci{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 2}gpcr_eci_1 {c |}{col 14}{res}{space 2} .9512892{col 26}{space 2} .0135893{col 37}{space 1}   70.00{col 46}{space 3}0.000{col 54}{space 4} .9233016{col 67}{space 3} .9792769
{txt}{space 4}pdevde_1 {c |}{col 14}{res}{space 2}-.0449193{col 26}{space 2} .0246322{col 37}{space 1}   -1.82{col 46}{space 3}0.080{col 54}{space 4}-.0956504{col 67}{space 3} .0058117
{txt}{space 5}pstab_1 {c |}{col 14}{res}{space 2} -.021474{col 26}{space 2} .0149283{col 37}{space 1}   -1.44{col 46}{space 3}0.163{col 54}{space 4}-.0522193{col 67}{space 3} .0092713
{txt}{space 5}psave_1 {c |}{col 14}{res}{space 2}-.0270131{col 26}{space 2} .0130512{col 37}{space 1}   -2.07{col 46}{space 3}0.049{col 54}{space 4}-.0538925{col 67}{space 3}-.0001336
{txt}{space 4}orioil_1 {c |}{col 14}{res}{space 2} .0258055{col 26}{space 2} .0278499{col 37}{space 1}    0.93{col 46}{space 3}0.363{col 54}{space 4}-.0315525{col 67}{space 3} .0831634
{txt}{space 4}origas_1 {c |}{col 14}{res}{space 2}-.0203724{col 26}{space 2} .0203468{col 37}{space 1}   -1.00{col 46}{space 3}0.326{col 54}{space 4}-.0622774{col 67}{space 3} .0215327
{txt}{space 4}orimin_1 {c |}{col 14}{res}{space 2}-.0105996{col 26}{space 2} .0251364{col 37}{space 1}   -0.42{col 46}{space 3}0.677{col 54}{space 4} -.062369{col 67}{space 3} .0411697
{txt}{space 3}orinonc_1 {c |}{col 14}{res}{space 2} .0275041{col 26}{space 2} .0336032{col 37}{space 1}    0.82{col 46}{space 3}0.421{col 54}{space 4}-.0417029{col 67}{space 3} .0967111
{txt}{space 1}p_polity2_1 {c |}{col 14}{res}{space 2}-.0012988{col 26}{space 2} .0010502{col 37}{space 1}   -1.24{col 46}{space 3}0.228{col 54}{space 4}-.0034617{col 67}{space 3} .0008641
{txt}{space 3}bci_bci_1 {c |}{col 14}{res}{space 2}-.0015634{col 26}{space 2} .0004469{col 37}{space 1}   -3.50{col 46}{space 3}0.002{col 54}{space 4}-.0024837{col 67}{space 3} -.000643
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}1932  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (empty)
{space 7}1933  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1934  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1935  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1936  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1937  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1938  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1939  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1940  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1941  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1942  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1943  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1944  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1945  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1946  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1947  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1948  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1949  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1950  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1951  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1952  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1953  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1954  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1955  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1956  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1957  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1958  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1959  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1960  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1961  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1962  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1963  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1964  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1965  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1966  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1967  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1968  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1969  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1970  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1971  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1972  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1973  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1974  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1975  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1976  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1977  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1978  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1979  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1980  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1981  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1982  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1983  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1984  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1985  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1986  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1987  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1988  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1989  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1990  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1991  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1992  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1993  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1994  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1995  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}1996  {c |}{col 14}{res}{space 2} .0059401{col 26}{space 2} .0104629{col 37}{space 1}    0.57{col 46}{space 3}0.575{col 54}{space 4}-.0156087{col 67}{space 3} .0274889
{txt}{space 7}1997  {c |}{col 14}{res}{space 2}-.0049007{col 26}{space 2} .0105756{col 37}{space 1}   -0.46{col 46}{space 3}0.647{col 54}{space 4}-.0266815{col 67}{space 3}   .01688
{txt}{space 7}1998  {c |}{col 14}{res}{space 2} .1148903{col 26}{space 2} .0116388{col 37}{space 1}    9.87{col 46}{space 3}0.000{col 54}{space 4} .0909197{col 67}{space 3} .1388608
{txt}{space 7}1999  {c |}{col 14}{res}{space 2} .0555139{col 26}{space 2} .0110357{col 37}{space 1}    5.03{col 46}{space 3}0.000{col 54}{space 4} .0327856{col 67}{space 3} .0782423
{txt}{space 7}2000  {c |}{col 14}{res}{space 2}-.0418938{col 26}{space 2} .0122846{col 37}{space 1}   -3.41{col 46}{space 3}0.002{col 54}{space 4}-.0671944{col 67}{space 3}-.0165932
{txt}{space 7}2001  {c |}{col 14}{res}{space 2} .0148576{col 26}{space 2} .0133974{col 37}{space 1}    1.11{col 46}{space 3}0.278{col 54}{space 4}-.0127349{col 67}{space 3} .0424501
{txt}{space 7}2002  {c |}{col 14}{res}{space 2} .0722227{col 26}{space 2} .0143424{col 37}{space 1}    5.04{col 46}{space 3}0.000{col 54}{space 4}  .042684{col 67}{space 3} .1017613
{txt}{space 7}2003  {c |}{col 14}{res}{space 2} .0161006{col 26}{space 2} .0142217{col 37}{space 1}    1.13{col 46}{space 3}0.268{col 54}{space 4}-.0131895{col 67}{space 3} .0453907
{txt}{space 7}2004  {c |}{col 14}{res}{space 2} .0536254{col 26}{space 2} .0137325{col 37}{space 1}    3.91{col 46}{space 3}0.001{col 54}{space 4} .0253428{col 67}{space 3}  .081908
{txt}{space 7}2005  {c |}{col 14}{res}{space 2} .0238139{col 26}{space 2} .0140055{col 37}{space 1}    1.70{col 46}{space 3}0.101{col 54}{space 4} -.005031{col 67}{space 3} .0526588
{txt}{space 7}2006  {c |}{col 14}{res}{space 2}-.0948317{col 26}{space 2} .0133011{col 37}{space 1}   -7.13{col 46}{space 3}0.000{col 54}{space 4} -.122226{col 67}{space 3}-.0674375
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}-.0731942{col 26}{space 2}  .015168{col 37}{space 1}   -4.83{col 46}{space 3}0.000{col 54}{space 4}-.1044334{col 67}{space 3}-.0419551
{txt}{space 7}2008  {c |}{col 14}{res}{space 2}-.0601579{col 26}{space 2} .0156114{col 37}{space 1}   -3.85{col 46}{space 3}0.001{col 54}{space 4}-.0923102{col 67}{space 3}-.0280057
{txt}{space 7}2009  {c |}{col 14}{res}{space 2} .0926456{col 26}{space 2} .0167716{col 37}{space 1}    5.52{col 46}{space 3}0.000{col 54}{space 4} .0581037{col 67}{space 3} .1271874
{txt}{space 7}2010  {c |}{col 14}{res}{space 2} .1161777{col 26}{space 2} .0153012{col 37}{space 1}    7.59{col 46}{space 3}0.000{col 54}{space 4} .0846642{col 67}{space 3} .1476913
{txt}{space 7}2011  {c |}{col 14}{res}{space 2}-.1381342{col 26}{space 2} .0152469{col 37}{space 1}   -9.06{col 46}{space 3}0.000{col 54}{space 4}-.1695358{col 67}{space 3}-.1067326
{txt}{space 7}2012  {c |}{col 14}{res}{space 2} .0095339{col 26}{space 2} .0167892{col 37}{space 1}    0.57{col 46}{space 3}0.575{col 54}{space 4}-.0250441{col 67}{space 3}  .044112
{txt}{space 7}2013  {c |}{col 14}{res}{space 2} .0590913{col 26}{space 2} .0174298{col 37}{space 1}    3.39{col 46}{space 3}0.002{col 54}{space 4} .0231939{col 67}{space 3} .0949888
{txt}{space 7}2014  {c |}{col 14}{res}{space 2} .0424052{col 26}{space 2} .0171434{col 37}{space 1}    2.47{col 46}{space 3}0.021{col 54}{space 4} .0070976{col 67}{space 3} .0777127
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} .0821367{col 26}{space 2} .0170117{col 37}{space 1}    4.83{col 46}{space 3}0.000{col 54}{space 4} .0471003{col 67}{space 3}  .117173
{txt}{space 7}2016  {c |}{col 14}{res}{space 2} .0497992{col 26}{space 2} .0164795{col 37}{space 1}    3.02{col 46}{space 3}0.006{col 54}{space 4} .0158591{col 67}{space 3} .0837394
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} .0382201{col 26}{space 2} .0164442{col 37}{space 1}    2.32{col 46}{space 3}0.029{col 54}{space 4} .0043525{col 67}{space 3} .0720876
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} .0340192{col 26}{space 2}  .016408{col 37}{space 1}    2.07{col 46}{space 3}0.049{col 54}{space 4} .0002263{col 67}{space 3} .0678121
{txt}{space 7}2019  {c |}{col 14}{res}{space 2} .0847826{col 26}{space 2} .0163376{col 37}{space 1}    5.19{col 46}{space 3}0.000{col 54}{space 4} .0511347{col 67}{space 3} .1184305
{txt}{space 7}2020  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2021  {c |}{col 14}{res}{space 2} .0603918{col 26}{space 2} .0173403{col 37}{space 1}    3.48{col 46}{space 3}0.002{col 54}{space 4} .0246789{col 67}{space 3} .0961048
{txt}{space 7}2022  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}2023  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} .0529062{col 26}{space 2} .0256751{col 37}{space 1}    2.06{col 46}{space 3}0.050{col 54}{space 4} .0000273{col 67}{space 3} .1057852
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res}         0
     {txt}sigma_e {c |} {res} .21453661
         {txt}rho {c |} {res}         0{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}


{com}. outreg2 using tab6.xls, append ctitle(DV: Economic Complexity Index)  dec(3) label  e(all)  2aster
{txt}{browse `"tab6.xls"'}
{browse `"C:\ado\SWIFT"' :dir}{com} : {txt}{stata `"seeout using "tab6.txt", label"':seeout}

{com}. 
. 
. 
. 
. *************
. *****END*****
. *************
. 
. 
. 
. 
. 
. 
{txt}end of do-file

{com}. log close
      {txt}name:  {res}<unnamed>
       {txt}log:  {res}C:\ado\SWIFT\Log3.smcl
  {txt}log type:  {res}smcl
 {txt}closed on:  {res}16 Oct 2025, 10:43:26
{txt}{.-}
{smcl}
{txt}{sf}{ul off}